Linden Homes has welcomed the Chancellor’s announcement to support people looking to buy their first home with the introduction of a new Help to Buy ISA initiative.
Clive Wiltshire, Managing Director of Linden Homes Western, which has the Heritage Park development in Radstock, said: “It is encouraging to see the government’s continued commitment in supporting homebuyers and the Help to Buy ISA is an initiative that will help first-time buyers as they save for a deposit for a home.
“A third of sales across the Linden Homes Group are made using the existing Help to Buy equity loan scheme and we know from experience that the deposit is often the biggest stumbling block for those who are buying their first home. Financial support for first-time buyers works really effectively up and down the country so this new saving impetus will really give the next generation something to aim for.”
With the Help to Buy ISA, the government will top up your savings for a deposit by adding 25p towards every £1 saved, up to a total of £12,000, and will match up to a maximum of £200 per month – so you receive £250 for every £200 saved. The scheme, launching later this year, is available on homes worth up to £250,000.
First-time buyers can use the initiative to help them save towards a brand new property at Linden Homes’ Heritage Park development which, once completed, will bring 150 one-, two-, three- and four-bedroom homes to the area as part of the long awaited regeneration of the town.
With the first two-bedroom houses expected to be ready for Summer, first-time buyers can register their interest now and save to secure a new home with a five per cent deposit of £7,750 using Help to Buy. And, saving the maximum monthly amount with the additional Help to Buy ISA, they will only need to save £5,812.50 of this, with the government topping up the remaining £1,937.50.
Sue Scholfield, Sales Director at Linden Homes Western, added: “We have helped many buyers get moving with Help to Buy and this new incentive to save will encourage more interest in this much anticipated development, which will offer an eclectic mix apartments and houses.
“Close to local amenities and situated within an easy commute of Bath, Bristol and Frome, I would urge prospective purchasers to register their interest soon to avoid missing out on the opportunity to be part of this exciting regeneration.”
To find out more about the Help to Buy ISA or to register interest in Heritage Park, call 0844 488 1542.
For further information, contact Victoria Hughes at James Reed PR on 0117 985 8980.
07 April 2015
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