Help to Buy scheme helps couple secure a dream first home
PAIR WERE ABLE TO USE LOAN TO AFFORD A ‘NICER’ HOUSE
A YOUNG East Staffordshire couple have taken their first steps onto the property ladder as they move into one of the borough’s newest housing estates.
Matt Genders, 26, and Emma Weston, 27, used Help to Buy to purchase a new three-bed house at Bellway’s Rolleston Manor development, in Rolleston-on-dove.
The pair had been living with Emma’s parents in Derbyshire, but decided it was time to move out and find a place of their own. Using Help to Buy meant they were able to secure their new home with a smaller deposit, as well as keeping their monthly mortgage repayments down.
Matt said: “Having spent the last year or so living at home with Emma’s parents, we decided it was time to take the next step and really put some foundations down and buy a home of our own. We researched a handful of housing developments in rural areas in Staffordshire and South Derbyshire before deciding to go and see the showhome at Bellway’s Ashtree Gardens development in Ashby-de-la-zouch.
“We were keen to avoid the hustle and bustle of city life, and to find somewhere with a genuine village mentality. Given we both love spending time in the outdoors, we were absolutely delighted to find our new home is only seconds away from various nature trails and countryside walks, which will no doubt keep us entertained for many years to come.
“Because of my career in restaurant management, and Emma’s role in complaints management, we were keen to find a house which not only matched our budget, but also one which provided a suitable food preparation space for myself. We also wanted a sizeable third bedroom which would serve Emma well as an at-home office space where she could work remotely.”
On the strength of the showhome they saw in Ashby, the couple purchased a three-bedroom semidetached Cherry house type for £254,000 at the Rolleston Manor development. By using Help to Buy, they received a 20 per cent equity loan of £50,900 towards the purchase price, which is interest free for the first five years of homeownership.
The scheme also enables first-time buyers to secure a new home with a deposit of just five per cent. However, Matt and Emma chose to put down a slightly larger deposit of £20,000 in order to further reduce the size of their mortgage.
Because of this they needed to secure a mortgage of £183,600, leaving them with monthly repayments of £575. Matt said: “Using Help to Buy really gave us a helping hand and allowed us to secure a much nicer property than we would have otherwise been able to get.
“It reduced the amount of time we needed to save up and was a massive help to get a bigger house without sacrificing on quality. While it would have been possible for us to get onto the housing ladder without Help to Buy, it wouldn’t have been this house.
“We chose to put down the biggest possible deposit we could to give us the lowest possible monthly repayments. Help to Buy gave us a short-term boost to gain a nice position in the market.”
As well as being delighted with the extra space their new home provides, the couple have also been impressed by the size of their new garden. Matt said: “The garden to the property really blew me away.
“It extends all the way around and is large enough for us to make a truly multi-functional space. Since moving in, we have brought in a landscape gardener to bring our vision to life, allowing a spacious open-plan feel with the rear doors from the kitchen and dining area opening to the newly-landscaped garden.
“The community on site and our neighbours have been nothing but friendly since we moved in, and there is a real community spirit here. We have joined a Facebook group of residents on the development which is just one of those nice touches and goes a long way to demonstrating the people here really care about the place in which they live. While this is not the first time we have moved houses, it is incredibly exciting to now have the keys to our new home following the effort it has taken to get to this stage. We are now looking forward to many happy years together here in our new home.”
Bellway is delivering a mix of two to five-bedroom homes at Rolleston Manor.