If you’re thinking about buying a new home, timing matters.
Current UK mortgage rates are at their lowest in about three years. Recent market data shows that average fixed mortgage deals have fallen back to levels not seen since before the economic upheaval following the “mini-Budget” in late 2022, with two- and five-year fixes both dropping and wider lender competition helping push rates down.
This presents a timely opportunity for homebuyers – not only might you benefit from a more competitive mortgage rate, but pairing that with a mortgage deposit contribution from Bancon Homes could make your monthly payments even more affordable and help you secure your new home sooner.
With mortgage rates still a key consideration for many buyers, the right incentive can make a real difference to both upfront costs and long-term affordability. At Bancon Homes, we’re offering a mortgage deposit contribution on selected new build homes to help make now a great time to buy.
This incentive isn’t just a short-term boost – it can help you protect your savings, secure a better mortgage deal, and enjoy lower monthly payments from day one.
What is a mortgage deposit contribution?
A mortgage deposit contribution is a financial incentive where Bancon Homes contributes a percentage of the purchase price towards your deposit – up to the maximum allowed by lenders which is 5% . This contribution is paid directly to your solicitor at completion and forms part of your overall deposit. For many buyers, this can significantly reduce the amount of personal savings needed to secure a new home.
Keep more of your savings
One of the biggest advantages of a mortgage deposit contribution is the immediate impact on your finances. By boosting your deposit for you, Bancon Homes helps you:
- Make your move much faster
- Use less of your own savings upfront or avoids borrowing from family
- Keep money back for furniture, flooring, or personalising your new home
- Move with greater financial confidence and flexibility
This is particularly appealing with a new build home, where buyers often want to invest early in making the space their own.
A bigger deposit can mean a better mortgage rate
Mortgage lenders look closely at loan-to-value (LTV) when assessing applications. The lower the LTV, the lower the perceived risk and that can translate into access to more competitive mortgage products.
By increasing your deposit through a Bancon Homes contribution, you may:
- Unlock better interest rates
- Fall into a lower LTV band
- Access mortgage deals that reduce your overall borrowing costs
Even a small improvement in LTV can have a meaningful impact on the rates available to you.
Lower rates, lower monthly payments
Securing a better interest rate doesn’t just benefit you in the long term – it can make your monthly budget more comfortable right now. Lower rates typically lead to:
- Reduced monthly mortgage payments
- Improved affordability during lender assessments
- Greater peace of mind as you settle into your new home
Over the course of an initial fixed-rate period, this can add up to thousands of pounds saved.
Why now is a great time to buy with Bancon Homes
Our mortgage deposit contribution is designed to help buyers move sooner and with greater confidence, while still protecting the value and quality of our homes. Combined with the benefits of buying new – energy efficiency, modern layouts, and lower maintenance – it makes purchasing a Bancon home a compelling option right now.
Whether you’re a first-time buyer or moving up the property ladder, this incentive could help make your next move more affordable than you think.
Take the next step
If you’re considering a new build home, now could be the ideal time to act. Speak to our sales team to find out which homes are eligible for a mortgage deposit contribution from Bancon Homes, and take independent mortgage advice to understand how this incentive could work for you.
With Bancon Homes, a mortgage deposit contribution can help you buy sooner, save more, and enjoy lower monthly payments from the very start.
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