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For many first time buyers, financial help from loved ones is a necessity in order to get onto the property ladder. With this in mind, one local housebuilder has acted.

At Taylor Wimpey Southern Counties’ Alver Village development in Gosport, the house builder has introduced its Family and Friends Advantage Scheme, to help you onto the first rung of the property ladder.

The housebuilder has introduced an initiative which invites family and friends to help first time buyers with the cash deposit they need to buy a new home, and in return Taylor Wimpey will pay them a guaranteed return of five per cent per annum for five years on the sum invested.

Sarah Pasco, regional sales director for Taylor Wimpey Southern Counties, explained: ‘We understand that parents or relatives still want to help their loved ones get onto the property ladder but, for many, simply acting as the bank of mum and dad is no longer an option. Family and Friends Advantage is a really straightforward scheme that provides a generous short-term return for those providing the deposit, as well as the possibility of both parties benefiting should house prices rise over the longer term.’

Family and Friends Advantage is available on deposits of up to 20 per cent of the purchase price.

A £30,000 deposit on a £150,000 property, for example, would see a guaranteed return of £1,500 every year for five years. Contributions towards the deposit can be made by more than one person and the rebate is paid directly into one nominated bank account on an annual basis.

Alver Village, part of the huge Rowner Renewal regeneration project, is a new residential development consisting of one and two bedroom apartments and two, three and four bedroom homes being built by Taylor Wimpey in Gosport.

Currently available are one and two bedroom apartments from £90,000 and a range of three and four bedroom houses with prices starting from just £182,000.

For further information about Family and Friends Advantage or Alver Village, visit the development on New Howe Road or call the sales team on 0845 026 3738 who will be happy to help.

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