CALA Introduces Market Leading Mortgage To Get The Housing Market Moving

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CALA Homes has created a package to help purchasers of its new homes overcome the two main obstacles to moving house in the present economic climate - raising a mortgage and selling their own home. The award-winning, premium housebuilder has secured a market leading, fixed rate mortgage of less than 6% for eligible purchasers of new CALA homes.

New CALA Mortgage Offer

Once again CALA Homes has taken a market leading position. This remarkable new mortgage, coupled with our Full Market Value Part Exchange scheme, will help many people get on and keep moving up the property ladder.

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CALA Homes has created a package to help purchasers of its new homes overcome the two main obstacles to moving house in the present economic climate - raising a mortgage and selling their own home.

The award-winning, premium housebuilder has secured a market leading, fixed rate mortgage of less than 6% for eligible purchasers of new CALA homes.

Available on all new properties on all CALA Homes' developments throughout the UK, eligible purchasers can take a preferential mortgage of 5.99% (then 7.0% variable rate for term of the loan, 7.3%APR) fixed rate until 31st July 2011, at a loan to value of up to 90%. CALA will also refund the cost of the arrangement fee to the customer at completion.

When combined with CALA's Full Market Value Part Exchange Scheme, CALA Homes Group Managing Director Alan Downie believes that the new preferential fixed rate mortgage will play a major role in helping to get people moving home again.

CALA Homes' purchasers will be introduced to CALA's preferred mortgage advisors who can provide information on this and other mortgage offers on the market to ensure CALA customers get the best mortgage for their individual circumstances. He says: "The lack of both buyers and of mortgage liquidity is hampering the housing market. This package enables us to offer a fantastic opportunity to purchase our new homes on preferential terms, while using our part exchange scheme to guarantee the sale of our purchaser's old home on a hassle-free basis, with no estate agents fees or HIPs cost, with CALA acting effectively as a cash buyer, frees up the buying process."

Mr Downie continues: "We are particularly pleased our purchasers will be able to take advantage of a mortgage rate that is fixed, so that it will not increase until 31st July 2011.

"Once again CALA Homes has taken a market leading position. This remarkable new mortgage, coupled with our Full Market Value Part Exchange scheme, will help many people get on and keep moving up the property ladder."

CALA Homes operates in the North, East and West of Scotland, in Yorkshire, the Midlands and in the South East of England, and is part of the Edinburgh-based CALA Group, the privately-owned UK housing and property developer. It is presently building a range of apartments and houses, at prices from £100,000 to £1+ million, at more than 30 new developments across the UK.

In the last financial year for which it has produced audited accounts to end June 2007, CALA Homes completed 1048 new homes in the UK.

In April, for the third year in succession, CALA Homes received one of the top customer satisfaction scores for UK housebuilders. In a national survey of new home buyers it was awarded four stars for customer satisfaction with the quality of its homes and won four stars for customers prepared to recommend the company's homes to a friend.

At the 2007 What House? Awards, generally regarded as the UK's housebuilding 'Oscars', CALA Homes won awards for Best House, Best Exterior and Best Apartment.

For further information on all of CALA Homes' developments, please visit CALA Homes website - http://www.calahomes.co.uk. Further information on the mortgage offer can be obtained by visiting a CALA Homes' development, or by clicking on cala.co.uk/mortgage.

For further information, contact: Claire Erskine, Group Marketing Manager, CALA Homes. Tel. 0131 535 5217. Mobile. 07769 967 367. email. cerskine(at)cala.co.uk or Jonathan Reay, Reay Public Relations. Tel. 0788 44 33475. email. jonathan(at)reaypr.co.uk

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