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Pickstock Homes News

24 March 2014
5-Deposit

A Great Nine Months for Help to Buy

The government’s Help to Buy scheme, introduced only nine months ago, has already helped sell over 17,000 homes in England, latest figures from the government have revealed. What is even more positive is that the majority of these buyers, 88%, were first time buyers, getting their foot on the property ladder.

However, as the scheme is only open to new-builds, it provides a fantastic opportunity for buyers, both first time and existing home owners, to purchase a brand new home.

The scheme allows buyers the opportunity to provide a deposit of only 5%, with governmental support for obtaining mortgages.

The average value of a property bought under the scheme was almost £195,000 – the scheme is limited to a property value of £600,000 in England and £300,000 in Wales.

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