Fairview New Homes is paying the interest difference to Brentwood Acres buyers in order to keep a two-year fixed mortgage rate down to 2.25%*

Fairview New Homes is helping house hunters struggling to purchase a new property as a result of soaring interest rates, to pay just 2.25% on a two-year fixed mortgage at Brentwood Acres in Brentwood, Essex.*

By paying the difference between the mortgage provider's interest rate and 2.25%, Fairview is saving buyers up to £29,448 in interest rate costs.

This is introduced at the timeliest moment, following the Bank of England's decision to raise the base rates to 3%, the highest since 2008. Prior to the announcement, the average two-year fixed mortgage rate stood at around 6%.

Chris Hood, Sales and Marketing Director for Fairview said: “Many of our prospective buyers are ready and able to take that exciting step into home ownership, but it's the mortgage rate that is the major roadblock. Since launching the 2.25% mortgage opportunity for our Brentwood Acres development a week ago, several buyers have already been able to move forward with their dream purchase as a result.

Some buyers will look at the 0.75 percentage point base rate rise today and worry about what this means for their mortgage options. We're committed to helping our customers realise their homebuying aspirations where we can, particularly in challenging times. This is why we've committed to this cost-saving opportunity until the end of this year. We'll be looking at the possibility of rolling it out at other Fairview developments.”

See below a breakdown of the savings:

Brentwood Acres

Well situated in the thriving Borough of Brentwood, Brentwood Acres is a contemporary collection of houses and apartments that comprise of 22 one- and two-bedroom apartments and 81 two-, three- and four-bedroom houses split across two sites, The Square and The Gardens.

Brentwood Acres offers the best of both worlds. Nestled among greenbelt woodland, but within touching distance of amenities and Stratford, London, which can be reached within 23 minutes on the newly launched Elizabeth line.

Fairview's mortgage incentive is available on all of the houses at Brentwood Acres, with two- and three-beds available to move into right away. Guide prices vary from £500,000 to £650,000.

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Notes to Editors:

*Mortgage rate offer is subject to contract and status, valid on selected homes only and on reservations made prior to 31.12.2022. The offer is available in the UK, subject to lender criteria. A 10% customer deposit is required alongside a mortgage offer of up to 5.92% on a 90% loan-to-value mortgage with a two-year fixed repayment over a 35 year term. Fairview New Homes are to pay the balance of the remaining interest payment over 2.25% to a maximum of 3.65% to the client on legal completion. Fairview New Homes do not offer mortgage advice. Any financial advice should be obtained from a mortgage adviser or lender. This offer is not available in conjunction with any other promotion Source: Torc24. Subject to T&Cs. Please speak to your sales advisor for more information. Your home may be repossessed if you do not keep up with mortgage repayments.

**Based on a 10% deposit with mortgage value detailed across two years

For further press information, please contact:
Yasmine Triana / Arabella Halfhide / Dylan Smart / Olivia Hazelden-Kingdon

Rooster PR
T: +44 (0)20 3440 8934
E: Fairview@rooster.co.uk

For information on Fairview New Homes, visit: www.fairview.co.uk 

Facebook: www.facebook.com/FairviewNewHomes 

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