Help To Buy - A Year On: Now At St John's In Chelmsford
01 Mar 2014

On April 1st, the Government’s Help to Buy scheme will be a year old. The scheme was announced in the Chancellor’s budget last March and since its launch, it has helped around 13,000 people to buy a new home while a further 6,000 other purchases are said to be in the pipeline..

In January it was being reported that in the first nine months of its existence Help to Buy* had created an average of 46 new home owners every day.

The Help to Buy scheme* is based on an equity loan from the Government: New home buyers (including first time buyers and home movers) can borrow up to 20% of the property price from the Government without being charged loan fees for the first five years.

Crucially for many people – and particularly first time buyers - the all important deposit can work out as little as 5%. The scheme is eligible for all new build properties up to the value of £600,000.

So for a home priced at £200,000 the Government could lend you up to £40,000 (20%) in the form of a loan that can be paid back at anytime in the next 25 years - and interest free for five years. £150,000 (75%) could come from a commercial mortgage lender. That leaves £10,000 – the 5% deposit that you pay up front.

The scheme is now available at Linden Homes’ St John’s development in Chelmsford.

St John’s is a collection of 1 & 2 bedroom apartments and 2, 3, and 4 bedroom houses – so there is an excellent variety of homes to choose from. These include new homes and refurbished ones, which are being carefully and thoughtfully created inside some of the site’s historic old buildings.

Linden Homes’ customer Vicky Wiltshire moved into her new three bedroom Linden Home in December – she bought her new home using Help to Buy and says it was a very straightforward process:

“I had looked into the Help to Buy scheme before we saw the house, to see if it could work for us. I think it’s an easy scheme to use and, most importantly, it can make a big difference to the house buying budget. If we had tried to purchase our new home without the scheme, our budget wouldn’t have stretched to what we actually wanted to buy. With the scheme, we were able to look at properties that were in a different bracket.”

Adrian Bohr, the managing director of Linden Homes Eastern, says the scheme has literally opened doors to many first time buyers and home movers who had thought a new home was financially beyond them:

“The Help to Buy scheme has been the catalyst for many people who thought they couldn’t afford a new home – or who thought they couldn’t afford to upgrade to a larger home. Many of our customers who have used it have been very pleasantly surprised when they have seen the kind of homes that are within their Help to Buy budget.

“The fact that the Government is able to offer a 20% loan (interest free for five years) is a real boon for buyers. It reduces their initial deposit and allows the customer to secure a more affordable mortgage. My advice is that if you are even vaguely thinking about investigating Help to Buy then come along to one of our Linden Homes’ developments and see what kind of home you can get for your money.”

To find out more about St John’s or for more information on the Help to Buy scheme, please come along to the sales and marketing suite in Chelmsford. The suite is open daily from 10am to 5pm. You can also call to find out more about these Linden Homes, make an appointment or register your interest in the development by calling 0844 488 1738.

*scheme rules apply


For further information, contact Claire McCowan or Emma Cox at Remarkable Group on 01962 893893.

References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith or one of Vistry’s joint venture companies) from which you are intending to purchase a new home. References to "you” and “your” are to the prospective buyer or buyers of a new home from us.

All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.