Why rent when you could buy?
Do you rent but would like to take your first steps on the property ladder? Have you been saving for a deposit but still think owning your home is out of your reach?
The Blackhall South New Apartment Event
Saturday 18 January - 10:30am to 5:00pm
With our new 5% deposit contribution offer at Blackhall South, owning your first home may be closer than ever before...
Come along to our new apartment event where we will be launching our new show apartment and will also welcome along mortgage broker Gail Reid Mortgage Services to answer all your mortgage questions.
With our new 5% deposit contribution scheme, buying your first home may be closer than you think. Below we have shared some examples of how buying your home can compare to renting, what you can save in the long-run and the many benefits of owning your own home.
Renting a spacious 2 bedroom flat in Inverurie is likely to cost you around £800 per month*. This is £800 you are paying to your landlord which is effectively paying off their mortgage.
With our 5% mortgage contribution, we can help you to take your first steps on the property ladder.
- Cost to buy a luxury 2 bedroom apartment at Blackhall South = £168,000
- 5% deposit contribution by you the buyer = £8,400
- 5% matched deposit contribution by Malcolm Allan Housebuilders = £8,400
- 10% combined deposit = £16,800
- Mortgage value to purchase home = £151,200
- Monthly mortgage payments = £752 per month**
This means you can save around £50 on your monthly rent/mortgage costs when paying off your mortgage rather than renting, but the benefits don’t stop there…
- You will own your own home meaning you are paying off your own mortgage and not your landlords, reducing your mortgage value every month.
- As a homeowner you are protected from rent increases with a fixed rate mortgage, your monthly mortgage value stays the same for the duration of your mortgage.
- Your landlord can decide to sell and you will need to find a new home, as a homeowner you are in control and don’t have to move unless you decide you want to.
- Apartments at Blackhall South also have an excellent energy efficiency rating meaning you are likely to save even more money on your monthly utility costs.
- Lastly, you are buying a new-build apartment meaning everything is brand new. There will be no tired-looking rooms, old carpets or ugly bathrooms to worry about.
If you are interested in learning more about our 5% matched deposit contribution, then come along to our new apartment event on Saturday 18th January at our new Blackhall South show apartment.
We look forward to welcoming you on the day, if you have any questions ahead of the event please email ejones@mahousebuilders.com.
* Inverurie rental estimates are based on analysis of current rental market values for second-hand properties with a similar floor area to the apartments at Blackhall South.
** The representative monthly mortgage cost is based on a 35 year mortgage with a 10% deposit.
*** Terms and conditions apply. The actual mortgage rate will depend upon your circumstances. Payments are indicative and full mortgage advice should be sought. Loans are subject to availability and subject to status. Your home may be repossessed if you do not keep up repayments on your mortgage.
Article published: 08 January 2025