Gleeson know that saving for a deposit can be difficult, which is why, if you save 10% towards your Gleeson Home, we will contribute an additional 5% through our Aspire scheme*. This larger deposit means you can secure a great mortgage interest rate, and in turn lower your monthly mortgage repayments, so it really is a win win situation.
Like many buyers, Paul and Skigh both aged 22, never thought they could save for their own home, but they put their mind to it and realised that overtime was the key to their future. Once they got focused with their savings, they managed to save double that and acquired a 10% deposit and made use of Gleeson’s Aspire scheme. They are now the proud owners of a 3 bedroom detached home with a garden and garage.
When Paul and Skigh decided to look into buying a new home they barely had a penny saved, yet by making just a few small changes they had the majority of their deposit just a year later. They started by moving back in with Skigh’s mum which saved on rent and they both opened a Help to Buy ISA. This meant that the Government added an additional 25% bonus to the money they saved for their deposit.
As a busy couple they didn’t want to sacrifice their social life, so decided to get their heads down and work over time to make their savings grow.
Paul explains, “For me it was really important to set myself a savings target and then set monthly milestones. Each month it felt great to know I had met my goal and this really encouraged me to keep going. I made the most of any bonuses at work and amazingly managed to save around £700 per month.”
Skigh works as an Activity Assistant at a care home and normally works for 3 days and then has 3 days off. She changed her working patterns to 4 days with just 2 days off over a 4 month period, which helped her save her share towards their home.
Skigh comments, “We never thought that owning a brand new home would be more affordable than an old one. But thanks to Gleeson’s schemes and some hard saving on our part we are now homeowners. Our development is close to everything you need and every Gleeson home has a garden which is not so common up North as most people have small yards.”
Sales Manager Kay Lightfoot adds, “Thank you to Paul and Skigh for sharing their deposit saving tips. Buyers are often surprised that they can buy a new home with just a 5% deposit and get a contribution from us. By following Paul and Skigh’s approach to saving you too could be in your own Gleeson home this time next year”
To find out more about our schemes or to find a development near you visit our website on www.gleeson.co.uk
*Aspire available on selected developments only.