Home buyers can take a step onto the property ladder at a development near Truro with just a 5% deposit by making use of Help to Buy*.
First-time and next time buyers can secure their home at The Meadows, Linden Homes’ development in the pretty village of Shortlanesend, by making use of the government-backed scheme.
Help to Buy has made homeownership more attainable by enabling buyers to purchase a home with just a 5% deposit and 75% mortgage. The remaining 20% of the purchase price is provided as an equity loan which is interest free for the first five years of home ownership.
Sharon Holder, Head of Sales at Linden Homes South West, said: “Help to Buy has made the dream of home ownership a reality for more than 81,000 buyers nationwide since its inception in 2013.
“Prior to the scheme’s introduction, many of these buyers would have faced the prospect of saving for much longer in order to put down the necessary deposit to enable them to buy.
“Now, following the recent confirmation that the equity loan scheme is set to remain active until 2020, we are looking forward to welcoming many more buyers to The Meadows who can make the most of Help to Buy to snap up their very own home there.”
The Meadows is a new collection of 2, 3 & 4 bedroom houses, and 2 & 3 bedroom bungalows, and buyers can use Help to Buy to purchase any of the homes for sale at the development.
In addition, buyers who reserve selected plots at The Meadows before the end of October will receive £5,000 worth of optional extras to help them personalise their home.
The homes at The Meadows have all been named after flowers, including the 2 bedroom Daisy and 3 bedroom Clover designs.
Sharon added: “Shortlanesend is a picturesque village which is only two miles from Truro, meaning that our residents at The Meadows can enjoy rural living with all the attractions and amenities of the city within easy reach.
Help to Buy is available to use in the purchase of new-build homes costing up to £600,000. To be eligible to use the scheme, the buyer must not own another property.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT. Credit is secured against your home. £9,997 deposit represents 5% of a £199,950 purchase price. Subject to status, Help to Buy Terms & Conditions and available on selected properties in England only. Eligible applicants will be offered an equity loan up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings/deposit where required. The equity loan is provided by the HCA and held as a second charge. This offer is not available in conjunction with any other promotion. Full details will be provided on request.
24 October 2016
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 representatives for details of the exact specifications available at the development(s) for each type of home and the associated prices.