A scheme to cut the cost of buying a purpose-built retirement apartment has been introduced by McCarthy and Stone.

Now available at Wilmot Court in Victoria Road, Farnborough, the Home Purchase Plan enables customers aged 70-plus to buy a new apartment for substantially less than the full cost.

McCarthy and Stone retains a share in the value of the property as part of the deal.

For example, an apartment priced at £184,950 can purchased for £129,465 with the Home Purchase Plan. Buyers, or their estate, then pay back to McCarthy and Stone the original value of the firm’s contribution or, if greater, 30% of the proceeds when the property is sold.

There are no escalating interest charges or administration costs to pay.

McCarthy and Stone marketing manager Deborah Waldeck said: “The Home Purchase Plan is specially designed for people who want to keep some money for their retirement.”

Wilmot Court is a development of one and two-bedroom apartments designed for people aged over 60.

The Home Purchase Plan is available to over-70s on selected apartments at Wilmot Court, where prices start from £169,950.

For further details on the plan or Wilmot Court call 01252 377149.