Recent budget plans have been highlighted in the media, revealing that the Help to Buy equity loan scheme will be succeeded in 2021 by a new first-time buyer only, Help to Buy scheme which will run for two years.
Burrington Estates New Homes welcomes the Help to Buy Extension, offering the scheme available on all sites throughout 2019. The Government funded scheme allows you to buy a brand-new home up to the value of £600,000 (in England) with just a 5% deposit and a 75% mortgage up until 2021, this will then be superseded by the new scheme for first time buyers only on new homes up to the value of £349,000 in the South West.
The current scheme is available to first time buyers and existing home owners that wish to purchase a new build property. The Government will provide an equity loan of up to 20% of the value of the property, and it is interest free for the first five years, it can then be repaid at any time within 25 years (or the term of the mortgage) or on the sale of the property.
With Help to Buy being available across all of our developments in 2019, you could be one step closer to owning your Burrington Estates dream home. Find out more today.
For more information, please visit: https://www.burringtonestates.com/help-to-buy/
To view our new homes developments, please visit; https://www.burringtonestates.com/new-homes/
Last week, Chancellor Philip Hammond disclosed his 2018 Budget, revealing that the Help to Buy equity loan scheme will be succeeded in 2021 by a new first-time buyer Help to Buy scheme which will run for two years.
The Government has stated that the future scheme is targeted at those most in need and will be for first time buyers only – but no changes to eligibility for the existing scheme are intended to take place before 2021.
Burrington Estates New Homes welcomes the Help to Buy Extension. The new scheme enables first time buyers to purchase a new build property up to the value of £349,000 (in the South West) with as little as a 5% deposit and a 75% mortgage.
The positive news underlines Burrington Estates New Homes’ confidence in the housing market in the South West, where five developments are currently live, offering a range of new homes suitable for first time buyers, with a further six developments programmed to meet the demand of the housing market.
Managing Director, Colin Palmer says; “With our current live and upcoming new home developments, we are able to satisfy the growing demand for new homes across the South West. The extension of Help to Buy gives potential first time buyers the peace of mind that they too can benefit from the scheme over the coming years.”
For more information on the Help to Buy scheme, please visit our website:
To find out more on our new homes developments visit the new homes page on our website.