Canny buy­ers catch on to scheme

High take-up rate of the help-to-buy ini­tia­tive across Bucks

Buckinghamshire Advertiser - - NEWS - By Camilla Good­man camilla.good­man@trin­i­tymir­ror.com

MORE than 1,300 peo­ple have taken ad­van­tage of the gov­ern­ment-backed Help to Buy scheme in Bucks – the sec­ond most popular county for the ini­tia­tive in the south east.

Over­all as a county, Buck­ing­hamshire with a to­tal of 1,315 home­buy­ers falls into sec­ond place just be­hind Hamp­shire which boasts 1,687 ‘Help to Buy­ers’ us­ing the scheme since it was launched two years ago.

It is also home to the top two per­form­ing ar­eas in the south east of Eng­land af­ter fig­ures re­leased by the Homes and Com­mu­ni­ties Agency re­veal that home­buy­ers in Mil­ton Keynes and Ayles­bury Vale have made the best use of the Help to Buy scheme with 621 and 539 sales recorded re­spec­tively.

How­ever, the scheme has not been suc­cess­ful in South Bucks and Chiltern with 17 recorded in South Bucks and 16 recorded in Chiltern dur­ing the last two years.

Lo­cal house­builder Bar­ratt Homes North Thames is en­cour­ag­ing home­buy­ers through­out all parts of Bucks to take ad­van­tage of the scheme.

Sales direc­tor for Bar­ratt North Thames, said: “Buck­ing­hamshire has pro­duced some fan­tas­tic re­sults for Help to Buy and is great to see two lo­cal au­thor­i­ties achiev­ing such high fig­ures for the scheme in the South East. Help to Buy has proved so help­ful to so many home­buy­ers through­out the coun­try and so we’d en­cour­age any­one else look­ing to buy a home with lower up­front costs to get in touch.”

Help to Buy al­lows any home­buyer, not just first timers, to se­cure a new home un­der the value of £600,000 with 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 a 75 per cent mort­gage.

Homes

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.