A Dream Home For Cambridgeshire First Time Buyers, Thanks To New Government Scheme
09 Apr 2013

AFTER spending five years in rented accommodation whilst saving a deposit for a first house, Alan and Mandy Bartlett have just reserved their dream home.

The couple from Cambridgeshire are the first Linden Homes customers in the region to benefit from the Government’s new Help to Buy scheme, which went live on 1 April 2013.

The scheme – which required just a five per cent deposit - is the latest in a number of Government incentives to assist people to buy a new build home, either first time buyers or existing homeowners, by offering to lend up to 20 per cent of the property’s value.

And the couple say they wouldn’t have been able to move without the scheme.

Mandy explained: “We’ve been living in two-bedroom rented accommodation for the past five years because we haven’t been able to afford to move to a home of our own during that time.

“We’ve spend all that time saving for a deposit and it’s fair to say that without this Help to Buy scheme, we would still be having to rent for some time to come.”

However, after visiting Linden Homes’ development in Peterborough, and falling in love with the show home, the Help to Buy scheme was presented to Alan and Mandy – and their house buying process began.

Although their four-bedroom townhouse is still in the process of being built, the couple –have the additional excitement of seeing their dream home develop brick by brick.

“Linden Homes explained the system so well and the process was really smooth. When we move in to our spacious new home in July it will really be a dream come true,” added Mandy.

Here’s how the Help to Buy scheme works:

  • It is available on new build homes only.
  • Purchasers need a minimum five per cent deposit.
  • All homebuyers could be eligible, not just first-time buyers.
  • The government will lend you up to 20 per cent of the value of your property through an equity loan, which can be repaid at any time or on the sale of your home.
  • Buyers will only need to secure up to a 75 per cent mortgage from a bank or building society.
  • The maximum home purchase is £600,000.

The scheme is available at Linden Homes sites around Cambridgeshire – including St Ives and Longstanton.

-ENDS-

For further press information please contact Cetti Long at Media Matters on 01733 371363 or email cetti@mediamatters-pr.co.uk

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