Thinking of Moving to a New Build in County Durham? We’ll Be at Windlestone Point This Weekend
If you’ve been thinking about buying a new build home in County Durham — whether you’re a first-time buyer, a home mover, or someone who thought they couldn’t afford to make the leap — this weekend is the perfect opportunity to get expert, face-to-face advice with no obligation.
The team at Mortgage Pathways will be on-site at Windlestone Point, Miller Homes’ stunning development in Chilton, County Durham, this Saturday 30th May for their Home Mover Event. Come and find us — we’d love to chat.
What Is Windlestone Point?
Windlestone Point is a development of energy-efficient 2, 3, 4 and 5 bedroom homes set on the northern edge of Chilton, a thriving village community between Durham and Darlington. With prices from £180,000 and easy access to the A1(M), it’s attracting huge interest from buyers across the North East.
Miller Homes are currently offering some standout incentives, including up to 5% towards your deposit or stamp duty, carpets included on reservations by 10th June, and part exchange options for those with a home to sell. It’s a genuinely exciting time to be looking at this development.
Why Come and See Us This Weekend?
New build mortgages are a specialist area — and that’s exactly what we do. The mortgage process for a new build property is different from buying an existing home, and having the right broker in your corner from day one makes a real difference.
Here’s what the Mortgage Pathways team can help you with at the event:
- Understanding your buying options — from standard mortgages to specialist new build products
- Explaining how developer incentives work — and how they interact with your mortgage
- Exploring home exchange — if you have a property to sell, we can walk you through how this might work alongside your finance
- Getting you mortgage-ready — so when you find the plot you love, you’re not starting from scratch
No Deposit? Here’s Something You Need to Know
One of the most common barriers to buying a new home is the deposit. Saving tens of thousands of pounds while paying rent is tough — and many buyers simply feel it’s out of reach.
But here’s the thing: you may not need a cash deposit at all.
Through Perenna, a specialist new build mortgage lender, it’s now possible to purchase a new home using a 5% deposit contributed by the developer. That means if Miller Homes are offering a deposit contribution on your chosen plot, Perenna can use that as your full deposit — leaving you only needing to cover your legal costs.
No years of saving. No waiting. Just your new home.
This is a genuinely game-changing product for buyers in County Durham, and it’s one of the options we’ll be talking through on Saturday.
Come and Find Us at Windlestone Point
When: Saturday 30th May, 11am – 3pm Where: Windlestone Point, Off West Chilton Terrace East, Chilton, County Durham, DL17 0EH
No appointment needed — just come and find us on site. Whether you’re at the very start of your thinking or you’re ready to move quickly, we’re here to help you understand your options clearly and confidently.
New build mortgages are what we do. We know the process, we know the lenders, and we know how to make your move as straightforward as possible.
We’ll see you on Saturday.
You may not know it from reading the press but there is a mortgage price war on. Mortgage rates are now at the lowest they have ever been and lenders are in competition with each other to see who can have the lowest rate.
Lenders know that the bank or building society with the lowest interest rates get the most business so lenders have been trying to reduce their rates to be lower than their competition.
This is particularly the case with fixed rates. Fixed rates stay the same for typically two or five years. Borrowers like them because they know what they are going to pay every month. Because fixed rates are not going to go up over the two or five years, even if all other interest rates rise, they usually have a slightly higher interest rate than what are called ‘variable rates’. Variable rates can move up or down with the Bank of England’s base rate of interest so they are normally cheaper – it is very unusual that they are not at the moment.
According to price comparison site, Moneyfacts, in the last week of May, HSBC launched a two-year deal at 1.16% plus a £1,499 fee, which was immediately beaten by Yorkshire Building Society, which rushed out a 1.14 % deal with a £1,345 fee.
The cheapest deal on record was launched by the Post Office last August, which was a two-year fix at 1.05% with a £1,995 fee and we are getting closer to this again every day. In fact many people are speculating that it is only a matter of weeks before the first lender launches a fixed rate mortgage that is under 1%.
This is all the more incredible when you consider that just five years ago, the cheapest fixed rate mortgage was 3.89%, while back in 2006 just before the financial crash, fixed rates were 4.99%. That means that ten years ago payments on a £200,000 repayment mortgage would have cost you £1,168 a month, where-as now it would be £767 – £401 cheaper a month. (on a £150,000 mortgage would have cost you £876, where-as now it would be £301 cheaper a month at £575.)
What this highlights is that there has never been a better or more affordable time to take out a mortgage, with many mortgages being significantly cheaper than rents on the same size property. Of course for many people raising the deposit is the biggest challenge, especially as lenders will usually give their lowest rates to the people with the biggest deposits.
However, there are now many government schemes that can help with deposits. Whether you are buying a new home or an existing one, come and talk to us and we will walk you through your options and help ensure that you can take advantage of these lowest ever rates.
