Launchpad is a new initiative, aimed in particular at first-time buyers and keyworkers who cannot afford to buy a property outright.

Under the scheme, applicants take out a mortgage for 75% to 95% of a property’s purchase price. The remaining share is held by LPC Living as a second loan secured on the property although there is no interest or rent payable.

The loan can be paid back based on the property’s open market value at any time after the first year up to the point of resale of the property or within ten years, whichever is sooner.

This terrific offer is available exclusively to those living or working in the M5 area, first-time buyers and students or employees of Salford University.

The maximum amount available under the Launchpad scheme will depend on your personal circumstances. For further details please speak to a Sales Executive.

Example based on 75% mortgage
Purchase a property at £100,000. 75% (£75,000) is payable at time of purchase. If the property is resold or transferred for £110,000 then 25% (£27,500) is payable to LPC Living.

The market value is calculated based on the average of two independent valuations to be taken at the time of resale, transfer, earlier repayment or at the end of the ten-year period.

Notes
This offer is only available on selected properties. Subject to status and LPC Living’s terms and conditions, including exchange of contracts within 28 days and legal completion by the specified date. Written details available on request. LPC Living cannot provide any financial advice.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOAN SECURED ON IT.