Renters offered building blocks to owning home

Rents in and around Aberdeen and the North might not be as astronomical as they were a few years ago, but leasing a property is still the biggest monthly expense for most young workers.

Paying hundreds of pounds in rent each month can make it difficult to save for a deposit towards a place of your own, but Bancon Homes might have a solution.

According to the developer, renters looking to get on the property ladder will spend less each month on a mortgage at the Bancon Homes’ new Eden community than they would on their current rental property.

A mortgage on the new Eve house style at Eden, a one-bedroom duplex villa, would cost approximately £365 per month when buyers purchase through the Help to Buy scheme.

Available on new-build properties in Scotland under the value of £200,000, the Help to Buy scheme gives eligible buyers the opportunity to secure their ideal home with a 5% deposit.

The Scottish Government provides financial support by taking an equity stake of up to 15% of the total property value, meaning the buyer only needs to secure a mortgage for the remaining 80% of the property value.

Ideal for first-time buyers and young couples, the Eve house style has an open-plan living, kitchen and dining area which is perfect for entertaining friends and family.

The development is situated just off the A944 to the west of the Aberdeen.

Along with plenty of nearby amenities, the community is also within easy reach of beautiful countryside.

John McCombie lives in a two-bedroom Adam style home at Eden.

“When searching for a property to buy in Aberdeen, I was drawn to the Eden development as I liked the design and layout of the houses and the high-quality finish, which I continue to be impressed by,” said John.

“The availability of the Help to Buy scheme made my decision much easier as it reduced the deposit required and gave me more flexibility to secure the right property.”

Prices at Eden currently start at £129,995 for a onebedroom Eve-style home.

If you’re on the property hunt but unsure how to afford your dream house, Muir Homes may be able to help.

The family-run house builder is hosting a firsttime buyers event this weekend at its Sovereign Gate development in Peterhead.

Prospective buyers will be able to chat to independent financial advisers and estate agents who can give free and impartial advice for those looking to get on the move this year. A busy fishing port around 30 miles north of Aberdeen, Peterhead offers an array of shops, bars and restaurants, good schooling and plenty of natural beauty.

The Sovereign Gate is ideal for first-time buyers who want a modern home in a peaceful location, with many properties eligible for the Scottish Government’s Help to Buy scheme, which allows purchasers to own a home with only a 5% deposit.

Prices at the development start from £130,000 with a range of two and three-bedroom properties.

Ash Sheikh, sales and marketing director for Muir Homes, said: “The independent financial advisers on hand can help take the stress out of the process by offering expert advice with Help to Buy eligibility, mortgages and affordability. As many of our three-bedroom homes are priced under £200,000, it’s also perfect for families looking for a home that still qualifies for the scheme.

“Many people are still unaware of how affordable and straightforward buying a new home with Help to Buy can be.”