Deposit boost offered on new apartments in Lichfield

Elan Homes will contribute up to 5% of the cost of selected new apartments at Lorne House, off Rotten Way.

Known as deposit boost, the scheme is designed to boost buyers’ budgets and their borrowing power.

Regional sales director Tracey Ball explained: “The idea behind offering a 5% gifted deposit contribution is to help increase the range of mortgage options available to buyers. With a deposit boost they may be able to access more competitive interest rates, lower mortgage rates or a shorter mortgage term. We have a handy mortgage checker tool on our website, which is fantastic for assessing the different mortgage options based on the size of deposit and the term of the loan without affecting your credit score.”

There are four apartments currently available at Lorne House, each with two bedrooms.

Apartment four is available from £385,000, with Elan offering a deposit boost worth £19,250.

On apartment six, a penthouse with upgraded specification, priced at £430,000, the deposit boost is worth £21,500.

Alternatively, those with a property to sell could receive help to secure a buyer with Elan’s Easy Move scheme.

Designed to streamline the selling and buying process, Easy Move sees Elan value the customer’s home and instruct independent estate agents to market it. When an acceptable offer is received, they can reserve their new apartment. There’s no link between the value of the two properties; contracts will be exchanged simultaneously and there are no agent’s fees to pay.

The apartments available are on the first and second floors of the building, which has been expertly crafted into bespoke designed homes.

They are accessed via a central lobby and staircase or lift. There are two on the first floor, plus two penthouses with vaulted ceilings and exposed steel, on the second floor.

Each has a combined kitchen, dining and living room to maximise the potential of the space.

The main bedroom in every apartment has an en-suite, effectively making the main bathroom the guest bathroom. For those who only need the second bedroom for friends and family staying over, they could create a dual function space in the spare bedroom, also using it as a home gym, luxurious dressing room or hobby room.

Along with the apartments, there’s also a three-bedroom semi-detached Garrick style home ready to move into from £380,000.

Both the apartments and the final home are part of an intimate development, just a short walk away from Lichfield’s historic city centre and its amenities. Birmingham can be reached in around 45 minutes including walking to nearby Lichfield City station.

For more information about the development, visit the Elan Homes website.