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 the Help to Buy website: Help To Buy
To find out more on our new homes developments visit the new homes page on our website.