Getting A Mortgage 'Up North' Is Cheaper Than You Think - Thanks To Help To Buy

While latest industry research suggests that workers in Yorkshire and Humber need to earn around £38,000 to afford a mortgage – Linden Homes North can ease the financial burden.

Based on the average home in the region costing £166,000, the recent report from The National Housing Federation shows a worker paid the region’s average wage (£23,405) would need close to a £15,000 pay rise to qualify for a 80 per cent mortgage.

However, with a number of developments across Yorkshire - many of which have homes under the reported £166,000 price tag – Linden Homes North can ease the financial burden of moving to a brand new home.

Thanks to the Government-backed Help to Buy scheme, and figures researched by financial experts at New Homes Mortgage Helpline, the average income would in fact need to be £32,000 per couple in a household – £8,000 less than the study suggests.

Under Help to Buy, purchasers need only a five per cent deposit. The incentive has already helped dozens of Linden customers to buy a brand new home – and in some cases, get more for their money.

Here’s how it works:

Linden Homes North sales director Steve Woomble is keen to dispel any misunderstanding about the Help to Buy scheme.

He said: “Despite a concerted effort to raise awareness of the scheme by the Government and those in the industry, people still do not have a grasp of this scheme and who it applies to.

“The scheme, which has helped numerous customers, is perfect for those looking to get on the property ladder or make that step up to their next home.

“We see many instances of people being perfectly able to afford monthly repayments however; the challenge is getting the money together for the all-important deposit. Help to Buy has a proven track record to specifically help those wanting to buy their first or next home.”

Linden Homes North currently has homes at the following developments:

Using the Help to Buy scheme can curb the cost of moving to a brand new home in Yorkshire and Humber.
Using the Help to Buy scheme can curb the cost of
moving to a brand new home in Yorkshire and Humber.

-ENDS-

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

09 December 2015

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