Cost of living: Housebuilder Persimmon rolls out measures to support customers buy new home

Housebuilding giant Persimmon is launching a package of measures to support customers with the affordability of their new home.

The firm - one of the UK’s biggest players with a string of sites across Scotland - said buyers who reserve a new home by the end of January could benefit from the company covering up to ten of their monthly mortgage payments, freeing up customers’ cash to help with the soaring cost of living. A separate offer aims to support those looking to sell their existing property, with a 105 per cent part-exchange scheme.

The group noted that across the UK, the average price of one of its homes is more than 20 per cent below the national average while around half of all its customers are first-time buyers.

Regional managing director for Scotland, John Roocroft, said: “We know that the volatile mortgage market combined with the cost of living has left many families concerned about the affordability of a new home and we want to do everything we can to help customers through this challenging time. The chance to move into a new home mortgage free for up to ten months will give potential home buyers some breathing space and ensure the path to a new Persimmon home provides real help with the cost of living.”

Persimmon said it was opening the door to home ownership for more families. Picture: Ryan Cowan

The move comes as high numbers of UK home-owners are set to refinance their mortgages in the coming year. However, some may find themselves paying tens of thousands of pounds more over the course of their new home loan than they would have done if they had taken out a deal just a year ago.