Thousands use help-to-buy in Nottinghamshire for new homes

Edwalton Park in Edwalton, Nottinghamshire
Edwalton Park in Edwalton, Nottinghamshire

A government initiative is helping thousands of families in Nottinghamshire to get on to the housing ladder. New figures released by the Homes and Communities Agency (HCA) reveal that a total of 2,478 homebuyers in Nottinghamshire used the Help to Buy scheme since it was launched four years ago.

Within the county the districts that made the best use of the scheme were Ashfield (681), Newark and Sherwood (366), and Nottingham (345). Of the total amount of homebuyers that benefited from the scheme, 1,898 were first time buyers.

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Local housebuilders Barratt Homes North Midlands and David Wilson Homes East Midlands is encouraging homebuyers throughout Nottinghamshire to take part in the popular scheme that has already helped tens of thousands of people across the country to buy a brand new home.

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Rochester show homes at Woodhouse Park in Nottingham
Rochester show homes at Woodhouse Park in Nottingham

The scheme enables anyone, both first time buyers and existing owners, to put down just five per cent as a deposit for their new home and to take advantage of a government equity loan providing access to more affordable mortgage rates.

Jan Ruston, Sales Director for Barratt Homes North Midlands, said: “We are pleased to see that Nottinghamshire homebuyers are taking advantage of the highly popular Help to Buy scheme.”

Jason Hearn, Sales Director for David Wilson East Midlands added, “Help to Buy has proved so helpful to so many homebuyers and we would encourage anyone looking to buy a home with lower upfront costs to get in touch.”

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Help to Buy allows any homebuyer to secure a brand new home under the value of £600,000 with just a five per cent deposit. The government lends the buyer 20 per cent of the value of the property in the form of an interest free equity loan for five years, meaning that buyers then gain access to some of the great mortgage rates currently available with just a 75 per cent mortgage. Available to all homebuyers, not just first timers, the scheme helps anyone looking for a boost up the property ladder.

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You can find more information on Help to Buy on both the Barratt Homes and David Wilson Homes websites – http://www.barratthomes.co.uk/Offers/Help-to-Buy/ and http://www.dwh.co.uk/Offers/HTB-Calculator/ together with a handy calculator which shows how much people can borrow using the scheme.

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