Stewart Milne Homes launches 4.99% fixed-rate mortgage deal

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by Kay Murchie

With the current misery surrounding the housing market, Stewart Milne Homes is offering some good news with an exclusive fixed-rate mortgage deal.

The deal, which offers homebuyers a fixed rate of 4.99% for three years on a range of Stewart Milne properties, is the lowest currently advertised on the market.

However, the deal is only available for a limited period of time and is arranged through a range of preferred independent financial advisers.

The housebuilder has homes across Scotland and the North of England and offers family homes and luxury apartments.

The company has won top building and design awards, being acclaimed by the NHBC and the UK Property Awards committees.

Today, fellow housebuilder Bovis announced that interim profits fell 83% in the first-half of 2008.

Bovis blamed the mortgage squeeze for the fall as well as a sharp decline in house prices over the last year.

Like other housebuilders, Bovis has had to reduce its workforce since the start of 2008 in a bid to save costs.

Last week, Persimmon, reported a 64% slump in first-half pre-tax profits to £100.9 million for the half-year to the end of June, this compares with £281.1 million in the same period last year.

Furthermore, housebuilder Bellway reported a 45% fall in reservations of its homes in the second half of the financial year, compared with the same period last year.