New Homes Week 2023
This New Homes Week, we’re shining a spotlight on the savings of a brand-new Mulgrave home.
Falling New Home Mortgage Rates in North & East Yorkshire
Residential mortgage rates have decreased more than 1.2% since the start of November 2022 and those seeking the security of a fixed rate mortgage could pay £1,308 less each year based on current 2-year fixed rates, and £1,415 less each year for current 5-year rates.
Mortgage interest deals have continued to improve since the Government’s Autumn Mini-Budget in September 2022, and, as a result, the cost of best-in-class reduced rates are potentially thousands per annum lower than a few months ago – meaning now is a great time to buy with Mulgrave Properties.
Both Nationwide and Virgin Money have introduced a new 5-year fixed rate mortgage at 3.99%, perfect for buyers who are looking to borrow up to 70% of the property’s value and presenting opportunities to fix monthly repayment costs at a level below the Bank of England base rate, which rose slightly to 4% in early February.
2-year fixed rates for first time buyers with a 40% deposit have also dropped from 5.24% in November to 3.99% now.
That is in addition to 0% Stamp Duty payable, the Mulgrave 5% Deposit Match and many more money-saving additions, which includes installing thermal insulation throughout, as well as high-functioning heating systems, brand-new kitchen and bathrooms, uPVC double-glazed windows and doors and a 10-year NHBC warranty.
Mulgrave homes are also built to meet a minimum EPC rating of band B, which can not only reduce gas guzzling utility bills, but unlocks unique lower-rate lending opportunities.
Energy Savings and Efficiency of a Brand-New Mulgrave Home
Research recently published by the Home Builders Federation has found that buyers of new-build homes in Yorkshire will save an average of £3,100 in energy bills compared to older properties, as the Government’s Energy Price Guarantee cap increases on 1 April 2023.
Buyers of the average new-build property (flats, maisonettes, bungalows and houses) are likely to save over £2,510 on household bills annually, equivalent to £209 per month, and, for buyers of a new-build Mulgrave home, these savings will be even higher, at around £259 per month.
That is a huge average annual saving of £3118 compared to buyers of older second-hand homes, who will be facing an average annual energy bill of £4,218.
These figures are constantly changing, but paint a clear picture that new-build properties have a considerable impact on energy conservation – just one of the many ways a brand-new Mulgrave home could be better for your bank balance.
Find out more about the savings of a new-build homes in Market Weighton, Sessay, Nosterfield and Tollerton here, as well as coming soon to Rufforth, Burniston near Scarborough and Shipton by Beningbrough.
Give Yourself The Gift Of Up To £10,968 In Seasonal Savings
Reduce your mortgage rate to 2% fixed for 2 years when buying a brand-new 2 or 3-bedroom home at The Galtres near York this winter. Alternatively, make the most of our 5% deposit match offer OR we’ll pay your Stamp Duty! Choose your savings when reserving by 22nd December and be one of the first […]
Cut Costs This Winter And Beyond With A Brand-New Mulgrave Home
Building innovations and technological advancements mean that new build homes are becoming more energy efficient than ever, resulting in running costs more than 50% cheaper than older properties. According to data from the Home Builders Federation (HBF), energy bills for new homes are on average 55% cheaper than second-hand housing, saving £180 on monthly running […]
Latest New Home Mortgage Rates
Lenders across the market have reduced mortgage rates following the freeze to the Bank of England Bank Rate on 2nd November at 5.25%. Inflation also fell sharply to 4.6% and a number of deals under five percent are now on offer. HSBC has recently launched a range of lower fixed-rate deals, succeeding cuts of up […]