Bauhaus provides first-time buyer with new home

14-May-2009

A property development in Croydon has provided one first-time buyer with his first home.

One of the apartments in Durkan Homes' Bauhaus site in the south London suburb is now owned by Elliott Chua.

What he spends on mortgage repayments is less than the rent he had to pay prior to the move.

Mr Chua believes the development "offers the best value for money" in the whole of the Croydon area.

The happy first-time buyer added: "My monthly mortgage payments are the same as my previous rent costs so I am paying towards something rather than just throwing money away.

"Plus I am now living in a brand new home with a great specification and fantastic views of the city."

In a statement, Durkan Homes said that low interest rates and a selection of "amazing deals" mean that the option to buy a first property is there for first-time buyers.

The Bank of England's monetary policy committee is expected to keep the interest rate at its current 0.5 per cent level for the rest of 2009.

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