Bovis Homes is thanking the family and friends who help loved ones buy a new home, with the Bank of Mum and Dad paying out £9.6 billion a year.
In response to research from Savills, which reveals that gifts and loans from the Bank of Mum and Dad have totalled £38.5 billion over the past four years, Bovis Homes is introducing its Deposit Assist Scheme at Sunnybower Meadow in Blackburn.
The scheme means that if a minimum of 5% gift is made towards a house deposit, Bovis Homes will reward both the contributor and the buyer. The friend or family member could receive £2,000 upon completion, while the buyer will receive £5,000 towards their moving costs.
This is now available on selected properties across Sunnybower Meadow, the first development from Bovis Homes in Blackburn. The homes included in the scheme are the three-bedroom Rowan and Beech, as well as the four-bedroom Aspen, all set in the rolling hills of Lancashire.
Zac Worthington, Managing Director at Vistry Merseyside and Cheshire West, commented: “It’s a challenge for anyone to save for a home in the current climate. Those who help their loved ones deserve a massive thank you; in many cases, they are keeping the dream alive for buyers. Plus our scheme isn’t without benefits for the homebuyer, so it’s a real win-win.”
To find out more about the scheme available at Sunnybower Meadow, visit: https://www.bovishomes.co.uk/developments/lancashire/sunnybower-meadow
It currently has a range of three-bedroom homes available with costs starting at £250,000.
