Why we need to say Happy Birthday to Help to Buy
PUBLISHED: 10:41 14 September 2018
This year the invaluable government-backed Help to Buy scheme, helping young people get onto the property ladder, turned five years old. Alison Page, from David Wilson Homes, tells us more.
This marks five years of the equity loan helping buyers on or up the property ladder.
Open to both first time buyers and existing homeowners, Help to Buy means that you can buy a new home under the value of £600,000 with just a 5 per cent deposit and 75 per cent mortgage, with the remaining 20 per cent made up of an equity loan from the government.
Over 3,000 homebuyers in the county have used the scheme since its launch, with districts such as South Norfolk boasting as many as 1,299 users of Help to Buy in the last five years.
Help to Buy has proven helpful to many homebuyers and we would encourage anyone looking to buy a new home with lower upfront costs to look into how the scheme can help you.
The loan is interest free for the first five years so this is a great way to bring your dream home within reach and take advantage of access to more affordable mortgage rates.
It is great to see the success of the initiative in the area so far and we hope that homebuyers continue to see the benefits of Help to Buy.
It’s important to stress that the scheme isn’t just for first time buyers, as this is a common misconception and Help to Buy is a great tool for existing homeowners too.
Our parent company Barratt Developments has helped over 23,000 homebuyers use Help to Buy to purchase their dream home, something we are proud of as a company.
We have a number of properties across Norfolk which are available to purchase using the scheme, including at Clements Gate and Mulberry Park in Poringland and Bure Meadows in Aylsham.For more information on our homes for sale, please call the sales information line on 0844 811 3888 or visit www.dwh.co.uk
David Wilson Homes has sponsored this column.