New Homes Customers To Benefit From Help To Buy Until The End Of The Decade (Midlands)
27 Mar 2014

DEVELOPER Linden Homes has welcomed Budget announcements that the popular Help to Buy scheme will continue until 2020.Chancellor George Osborne announced the extension to the scheme (which was first introduced last April) as part of budget measures affecting new homes and the construction industry.

The further extension to the Help to Buy 1 incentive – which had already been extended until 2016 - will see an estimated 120,000 sales of new homes during the additional four years.

Here’s how it works:

  • 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.
  • The Help to Buy (1) scheme is available on new build homes only, worth up to £600,000. A Help to Buy 2 scheme is in place for second hand homes.
  • Customers need only a minimum five per cent deposit.
  • You don’t have to be a first time buyer to be eligible.
  • Buyers only need to secure up to a 75 per cent mortgage from a bank or building society.

    Linden Homes (Midlands) sales director Chris Roads said: “The extension of the Help to Buy scheme is a positive move for people who are looking to step onto or move up the housing ladder to a brand new home.

    “Help to Buy has been hugely popular and successful across our regional developments since its introduction a year ago, with numerous customers benefiting from the financial help it offers.

    “And with a number of new developments planned for the coming months, this extension will ensure that more people looking to buy a new home will have the opportunity to benefit from Help to Buy and fulfil their dream of owning a new home.”

    Among those to use the scheme is homebuyer Paul Mott – who recently moved into an apartment at one of Linden Homes’ popular regional developments.

    Paul said: “Help to Buy was perfect for me. I was able to buy a brand new home which suited my needs whilst being able to manage my outgoings and finances.”

    For more information on Help to Buy, visit http://www.lindenhomes.co.uk/offers-incentives/help-to-buy/

 

-ENDS-

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