On new Merseyside homes, the first twelve months’ mortgage is covered.

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On new Merseyside homes, the first twelve months’ mortgage is covered.

A property developer in Merseyside has announced that it will cover people’s mortgage payments for the first year.

The deal is valid for new houses built by David Wilson Homes earlier this year in Southport and Formby.

If homebuyers reserve a property by the end of September, the developer says it would cover all mortgage payments for a year.

Pavilion Gardens in Southport and Pinewood Park in Formby have both recently finished a range of three and four bedroom homes.

Pinewood Park is a residential area located off Liverpool Road near the Formby Bypass, with properties ranging in price from £290,000 to £460,000.

Pavilion Gardens is a new development in Kew, with properties starting at £145,000.

The “significant respite,” according to David Wilson Homes, provides potential new owners “the flexibility to stamp their own mark” on their home right away.

The developer claims that instead of going toward a mortgage, the money might be used for other furniture and changes.

“We genuinely want to encourage positive, lively communities, and these deals provide the perfect opportunity to make that dream home easier to achieve,” Philippa Stewart, of David Wilson Homes North West, told The Washington Newsday.

“These are homes that we are incredibly proud of, and we urge anyone who is interested to have a meeting with us to learn more.”

After more than a year of relief in an attempt to strengthen the property market due to the coronavirus outbreak, the stamp duty holiday deadline expires on September 30.

The temporary tax exemption was introduced by Chancellor Rishi Sunak in July 2020, exempting buyers from paying stamp duty on houses worth up to £500,000.

This has been reduced to any residence worth up to £250,000 since June 30.

Stamp Duty, a tax levied when you buy a house or piece of land for more than a particular amount, was originally levied on properties worth £500,000 or more.

From October 1, the threshold will be decreased to £125,000, requiring buyers to pay the tax if the property is valued that much or more.

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