Get spacious, stylish, well equipped and a fine finish for less with HelptoBuy

With Help to Buy a brand new home in Rochdale just got more affordable thanks to Redrow Homes who have made the Government-backed Help to Buy scheme available on all new homes at their Birch Grange development. Under the HelptoBuy scheme, those with a 5% deposit have the opportunity to cut the cost of homeownership with the aid of an equity loan.

Claire Jarvis, sales director for Redrow Homes (Lancashire), says: “We’ve had an excellent response to the introduction of Help to Buy across the region and seen an upsurge in the number of enquiries from would-be home owners. Many of them have gone on to reserve one of our homes and we’re working with others to help them get the new home they want. While people are aware of the scheme, some don’t realise that it’s not just for first time buyers but can be used by other purchasers such as families in need of extra space.”

Located in Birch Road, Wardle features three and four-bedroom homes. Prices start from £179,995 or an initial outlay of only £143,996 using the equity loan. The Help to Buy price is made up of a 5% deposit from the customer of £9,000 and a mortgage of 134,996, which amounts to 75% of the property’s full value. The remaining share is covered by the equity loan, which is interest free for five years and can be repaid when the customer has more funds available or when they resell.

Despite the lower price, Help to Buy customers enjoy all the benefits of those who purchase a new Redrow home at full market value. They’ll still own a home that boasts Redrow’s high specification as standard, including a beautiful kitchen that’s well equipped with integrated top brand name appliances, plus bathrooms and en-suites with quality fixtures and fittings and an exclusive tile range.

To find your ideal home with HelptoBuy browse the latest homes from Redrow on SmartNewHomes and register your interest/request a brochure for those that take your fancy.

Happy house hunting!

 

Get on the London property ladder with HelptoBuy

Taylor Wimpey, one of the UK’s largest homebuilders, has seen an increase in visitor levels and new home reservations in 2013 across Essex and Greater London driven by improvements in customer confidence and helped by the Government’s introduction of the Help to Buy scheme. 

Taylor Wimpey secured the first ever Help to Buy completion in the country and has received a great deal of interest from home-hunters, supporting customers to purchase, reserve or register their interest in approximately additional 300 homes across the country since the scheme’s launch on 1 April.

Commenting on the success of the scheme, Housing Minister, Mark Prisk said: “I’m delighted that, just five weeks after the launch of Help to Buy in the Budget, the scheme’s first buyers are moving into their new property and I wish them all the best for the future in their new Taylor Wimpey home.”

Michael O’Leary, Managing Director for Taylor Wimpey East London, commented: “The new Help to Buy housing measures have been welcome news for home-hunters. We have seen significant increases in customer interest across Essex and Greater London following its announcement and the scheme has already proven popular for those looking to get onto or move up the housing ladder.

“The measures announced by the Chancellor will help home-builders get Britain building and add a welcome vibrancy to both the new and second-hand markets in the region over the next three years. The country is desperately in need of more homes and we welcome the Government’s focus on addressing this.”

The Help to Buy initiative involves an equity loan scheme which is available on new-build properties up to the value of £600,000. There is no salary cap for purchasers, and it is available to both first-time buyers and existing property-owners who are looking to move home.

Eligible purchasers receive a Government loan of 20%, which means that they only need to put down a 5% deposit and obtain a 75% loan-to-value mortgage. 

Michael added: “Since Help to Buy launched we’ve also seen a huge increase in people accessing our online information about the scheme. On the Taylor Wimpey website you can find helpful videos explaining how the scheme works, a buyer’s guide and frequently asked questions. Home-hunters in Essex and Greater London  can also visit any of our eleven developments to discuss how Help to Buy could help them move into their dream home.”

To find your ideal home with HelptoBuy browse the latest homes from Taylor Wimpey and register your interest/request a brochure/arrange a viewing

The price is right with HelptoBuy

The introduction of the HelptBuy scheme is great news not just for those looking to buy their first home, but existing homeowners who want or need to move as it reduces both the size of the deposit and mortgage required. 

Patsy Aicken, sales director for Redrow Homes (Yorkshire), commented: “We’ve had a brilliant response to Help to Buy across the region. People are really keen to find out more about the scheme and how they can benefit and this weekend we’re inviting them to visit Holtby Gardens. Our friendly, experienced sales consultants will be joined by mortgage specialists who will be able to guide customers through the buying process and explain just how simple and affordable it can be with Help to Buy.

“It’s an ideal way for first time buyers who have saved hard for a 5% deposit to get onto the property ladder as it allows them access to better interest rates usually reserved for people with much larger savings. It can also be used by other groups of purchasers, including those who perhaps don’t have substantial equity in the home they’re moving from.”

Under Help to Buy customers with a 5% deposit will be able to take out an equity loan for up to 20% of the purchase price. They will then only need a mortgage for 75% of the property’s value, which should give them access to some of the better rates usually reserved for those with hefty savings or substantial equity in the home they’re moving from.

For example, a two-bedroom Hexham at Holtby Gardens available on the open market for £144,950 can be purchased for an initial outlay of £115,960 with Help to Buy. The initial outlay includes a deposit of £7,247 and a mortgage for £108,713. The remaining share is covered by the equity loan. The loan is interest free for five years and can be repaid when the customer has more funds available or when they resell.

Featuring designs from the sought-after New Heritage Collection, homes at Holtby Gardens look traditional from the outside but are bright and modern inside. The high specification offered as standard includes stylish, yet practical kitchens that are well equipped with integrated top brand name appliances; while bathrooms and en-suites enjoy quality fixtures and fittings, with an exclusive tile range.

To find out more about buying at Holtby Gardens with Help to Buy, visit SmartNewHomes 

 

First Time Buyers are UK’s First Help to Buy Completion

A young couple relocating from Northern Ireland to a new Taylor Wimpey home near Liverpool have become the first new homebuyers to complete under the Help to Buy scheme, an initiative launched by the Government on 1 April…

Catherine McClean (26), a nurse, and Nikolai Ivanovic (25), a former Queens Guard, have taken their first step on the property ladder by using Help to Buy to purchase a three bedroom semi-detached home at Taylor Wimpey’s Speakman Gardens development in Prescot.

Commenting on the success of the scheme, Housing Minister, Mark Prisk said, “I’m delighted that, just five weeks after the launch of Help to Buy in the Budget, the scheme’s first buyers are moving into their new property. I’d like to congratulate first time buyers Nikolai and Catherine as they move in today, and wish them all the best for the future in their new Taylor Wimpey home.”

Miss McClean said, “Help to Buy has been a massive help to us. We certainly wouldn’t be in the position we are now without it. It has enabled us to own our own property. I am the first person in my family to own my own home and I am immensely proud. We have been so lucky to have been given a helping hand to allow us to achieve this. And Wendy at Taylor Wimpey was such an extraordinary help to us all the way through the process so we’re really grateful to her too.”

Mr Ivanovic said,“We did look at buying in Northern Ireland where Catherine grew up. We were saving our deposit and we even viewed homes there, but it didn’t feel right. So we reconsidered our options and what we wanted from our careers and searched the internet for homes in Liverpool. We saw Taylor Wimpey’s SpeakmanGardens and really liked the look of it so we rang up and started talking to Wendy, the sales executive, about our options.”

The Help to Buy initiative involves an equity loan scheme which is available on new build properties up to the value of £600,000. There is no salary cap for purchasers, and it is available to both first time buyers and existing home owners. Eligible purchasers receive a Government loan of 20%, which means that they only need to put down a 5% deposit and obtain a 75% loan-to-value mortgage.

To find a new home under the HelptoBuy Scheme in another area, browse the latest homes from Taylor Wimpey on SmartNewHomes

 

First-Time Buyer numbers up by 15% in April

First-time buyer numbers rose 15% in April, as more first-timers were able to access record low rates and a wider choice of mortgages, according to the latest First Time Buyer Monitor from LSL Property Services.

There were 22,000 first-time buyer transactions in April, almost 3,000 more than in March, when there were just 19,100 transactions. And the average mortgage rate remained low, only rising slightly to 4.31% in April from a record low of 4.29% in March. Annually, the average mortgage rate was 0.35% lower than in April 2012, with falling headline rates helping to attract more first-time buyers.

Buyers with smaller deposits began to reap the benefits from Funding for Lending in early 2013. The scheme has allowed lenders to offer more mortgages to high LTV borrowers. The average LTV in April 2013 rose to 80.4% from 79.9% in April 2012, reflecting greater lending to high LTV borrowers compared to last year.

However, the falling affordability of deposits kept a lid on bubbling growth in the market – and partially offset the improvements in first-time buyer mortgage availability – preventing a greater increase in transactions. The average deposit rose 3% to £27,178 in April, despite lower rates and a rise in the average LTV, because of rising house prices.

	Transactions	Average Purchase Price (£)	Average LTV
April 2013	22,000	£138,632	80.4%
March 2013	19,100	£135,931	80.6%
1 month change	15.0%	2.0%	Down 0.2% (from 80.6%)
3 month change	38.1%	3.7%	Up 0.5% (from 79.9%)
1 year change	78.6%	12.1%	Up 0.5% (from 79.9%)

Rising house prices also affected affordability for first-time buyers and were the primary cause for the hike in deposits. The average price of property purchased by first-time buyers rose 2.0% in April, to a high of £138,632.

Annually, the increase in property price is even more apparent – prices are now 12.1% greater than in April 2012. This has had significant impact on deposit sizes. Compared with last year, deposits now represent a 4.2% greater proportion of a first-time buyer’s wage. And as rising house prices drove a rise in the average deposit, mortgage repayments also rose as a proportion of a first-time buyer’s income.

First-Time Buyer Affordability

	Average deposit (£)	Deposit as proportion of income	Average mortgage rate	Mortgage repayment as proportion of income
April 2013	£27,178	81.7%	4.31%	21.9%
March 2013	£26,406	76.8%	4.29%	20.8%
February 2013	£26,876	79.6%	4.33%	20.6%
April 2012	£24,842	77.5%	4.66%	20.9%

A great start to the year

There were 78.6% more transactions in April 2013 than a year ago, when there were just 12,300 transactions. However this figure is distorted, due to an artificial spike in first-time buyer numbers in March last year caused by the implementation of new stamp duty rules on the 25^th March 2012, introducing a 1% stamp duty on properties valued between £125,000 and £250,000.

Considering this, it is all the more impressive that the total transactions in the first four months in 2013 has increased so significantly. The first four months of 2013 saw 72,900 borrowers secure a deposit for their first home, 15% higher compared to 63,300 in the first four months of 2012. First-time buyer lending so far this year is far stronger, even though the number of transactions in the first three months of 2012 was artificially high, thanks to the rush to beat the end of the stamp duty holiday.

David Newnes, director of LSL Property Services, owners of estate agents Your Move and Reeds Rains, said: “Transactions among first-time buyers increased significantly in April as an improvement in the availability of high LTV mortgages allowed more first-time buyers to realise their dreams of homeownership. Increased lender confidence has lead to lower rates and a wider range of first-time buyer mortgages. The result: a super-strength opening to 2013 that has seen 15% more first-buyers than last year.

“But weak wage growth and rising house prices are stymieing first-time buyer lending, and keeping a lid on a market that could otherwise be boiling away happily, by preventing further transactions. Mortgage rates may be at record lows but repayments are equal to a larger proportion of the average first-time buyer’s wage. And the size of the deposit they must save before they can purchase has increased both in monetary value and as a proportion of wage – a second blow for potential buyers that is large enough to knock many out of the ring and prevent them from buying.

“Schemes like to Help-to-Buy are designed to launch a counter-offensive on deposit requirements. But the scheme may actually inflate property prices, so may turn out to be counter-productive.”

 

The Aspiration Gap

96% of registered tenants wanted to become a homeowner in April, up from 89% in December, but only 10% (down from 13%) believed they would be able to buy in 2013. Four in ten tenants (42%) believed they would make a purchase within five years, while 15% thought they would never be able to afford to buy.

Despite a rise in the average LTV in April, almost half (45%) of first-time buyers named an inability to save for a deposit as the number one reason preventing them from purchasing property. The second and third biggest blocks to homeownership were concern over not having a big enough income to support mortgage payments (15%) and concern over transaction costs being too high (14%) respectively. Just one in twenty buyers were concerned about either falling house prices (5%) or unemployment (5%)

David Newnes continues: “While desire to become a homeowner is high and rising, the number of tenants who are expecting to buy by the end of the year has hit a low. It’s a case of an aspiration gap that is growing wider still as deposits become less affordable, and poor wage growth and high inflation loot the savings of those looking to buy.”

The profile of a first-time buyer

The average first-time buyer in April was 30 years old, and earning £33,268 per annum, 3% lower than the average of £34,405 in March.

The number of purchases entirely self-funded by first-time buyers was 51% in April as almost half of all first-time buyers (49%) received help to buy from an outside source (such as their family, or a government scheme). Well over a third of first-time buyers (36%) received direct financial help to buy from their family, a further one in twelve (8%) were using funds from an inheritance, while just one in a hundred (1%) was aided by a government scheme.

Over a third of all first-time buyers (37%) said they had only recently been in a financially sound enough position to buy, while 11% bought as they believe it is a good time to invest because they expect house prices to continue to rise.

The most popular properties for first timers were houses with three or more bedrooms, with 44% looking for at least three bedrooms. A third of first time buyers (32%) were looking for houses with two bedrooms – the second most desirable property type. Flats were far less desirable to first-time buyers than houses, with only 21% of buyers were looking to purchase a flat in April.

David Newnes said: “The average earnings of a first-time buyer declined in April, and deposits are now forming a larger percentage of their income. Many are turning to family to help them build enough capital to form a deposit as a result. And, as purchasing property remains difficult for first-time buyers, they are looking to buy as a longer term investment, and often with family in mind. Houses are far more attractive then flats to first-time buyers, now with an average age of 30, as they provide the much needed room to allow a new family to grow.”

Price expectations

Four in ten first-time buyers believe house prices will remain steady in the next year, while almost half (46%) think they will increase by up to 5%. Only 8% of first time buyers expect prices to fall in the next year.

And first-time buyers are buying property as a fairly long-term investment. Two-thirds of first-time buyers (62%) expect to stay in their property for more than 5 years, while lower than one in fifty are planning to move in less than two years.

	Transactions	Average Purchase Price	Average LTV	Average Deposit	Average Initial Rate	Mortgage Payments as % of income	Deposit as % of income
Mar-11	15,300	£126,121	80.15%	£25,034	5.05%	21.6%	75.9%
Apr-11	14,300	£130,500	80.51%	£25,431	5.06%	22.0%	75.4%
May-11	14,800	£130,093	80.42%	£25,478	5.02%	21.9%	75.7%
Jun-11	18,500	£132,494	80.84%	£25,380	5.00%	22.4%	75.7%
Jul-11	17,600	£133,125	81.11%	£25,151	4.93%	22.2%	74.1%
Aug-11	18,300	£135,000	81.53%	£24,929	4.86%	22.3%	73.0%
Sep-11	18,500	£132,813	81.67%	£24,339	4.72%	22.0%	72.5%
Oct-11	16,800	£132,500	81.10%	£25,037	4.47%	21.5%	75.2%
Nov-11	17,500	£134,375	79.90%	£27,007	4.33%	20.9%	80.2%
Dec-11	18,600	£137,250	80.06%	£27,364	4.36%	21.3%	80.7%
Jan-12	12,700	£134,994	80.32%	£26,567	4.39%	21.1%	78.3%
Feb-12	13,900	£135,000	79.72%	£27,377	4.44%	21.3%	81.7%
Mar-12	24,400	£146,713	79.94%	£29,435	4.56%	22.5%	84.1%
Apr-12	12,300	£123,694	79.92%	£24,842	4.66%	20.9%	77.5%
May-12	17,700	£131,245	80.52%	£25,572	4.86%	21.8%	76.3%
Jun-12	19,400	£137,494	80.42%	£26,918	4.95%	22.7%	79.2%
Jul-12	18,000	£135,802	79.91%	£27,281	4.92%	21.6%	78.1%
Aug-12	20,400	£137,250	79.50%	£28,133	4.91%	22.0%	81.4%
Sep-12	17,600	£135,000	80.20%	£26,735	4.86%	22.0%	78.6%
Oct-12	20,00	£135,000	80.19%	£26,747	4.81%	21.8%	78.3%
Nov-12	21,700	£134,063	79.08%	£28,045	4.72%	21.2%	82.4%
Dec-12	19,500	£137,063	79.91%	£27,541	4.60%	21.6%	80.7%
Jan-13	15,900	£133,750	79.85%	£26,944	4.44%	20.8%	79.2%
Feb-13	15,900	£132,813	79.76%	£26,876	4.33%	20.6%	79.6%
Mar-13	19,100	£135,931	80.57%	£26,406	4.29%	20.8%	76.8%
Apr-13	22,000	£138,632	80.40%	£27,178	4.31%	21.9%	81.7%

To find your perfect First home, visit SmartNewHomes

 

LSL uses the extensive monthly data from registered first time buyers in its its estate agency brands Your Move and Reeds Rains to update the CML’s first time buyer data before the CML’s RMS data is published. The term ‘first time buyer’ is here denoted by the purpose of a buyer’s registration, rather than their LTV. LSL LTV data has been applied to CML price purchase data to calculate deposit and affordability information. Sentiment and salary data are derived from a survey conducted by LSL. The figures are not mix or seasonally adjusted, and are subject to revision as more data becomes available.

This First Time Buyer Monitor has been prepared by The Wriglesworth Consultancy for LSL Property Services.  It has been compiled using information extracted from LSL’s management information.  The copyright and all other intellectual property rights in the First Time Buyer Monitor belong to LSL.  Reproduction in whole or part is not permitted unless an acknowledgement to LSL as the source is included.  No modification is permitted without LSL’s prior written consent.

Whilst care is taken in the compilation of the First Time Buyer Monitor, no representation or assurances are made as to its accuracy or completeness. LSL reserves the right to vary the methodology and to edit or discontinue the buy-to-let index in whole or in part at anytime.

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Get Help to Buy yourself a 4 bedroom home with style

If you’re ready for lift of and a soft landing into a new home but need a little ‘help to buy’ then Taylor Wimpey’s Kinghill Grange in High Wycombe has a range of stunning homes on offer under the government backed HelptoBuy Scheme.

Help to Buy is a shared equity scheme which makes it possible for homes buyers to purchase a new home at 80% of the full price, which includes a 5% deposit. With a number of stylish 4 bedroom homes ready for you you to move right you could move in within 6 weeks if you qualify for HelptoBuy.

To give you an estimate of funds required to make your move, a 4-bedroom home at Plot 117 ‘Bradenham B’ townhouse, can be secured under Help to Buy for an 80% shared equity price of just £288,000 (full price £360,000) including a 5% deposit as low as £18,000*. Other homes on offer include Plot 133 ‘Downley’, priced at £360,000 (£288,000* Help to Buy price), the Plot 62 ‘Hambleden’ and Plot 106 ‘Chesham’, both priced at £430,000 (£344,000* Help to Buy price) and the Plot 127 ‘Bisham B’ priced at £500,000 (£400,000* Help to Buy price).

Tim Betts, Regional Sales and Marketing Director for Taylor Wimpey, says: “This superb scheme makes it possible to secure one of our fantastic family-size homes for less at Kingshill Grange and then enjoy the benefits of lower monthly mortgage repayments.”

The Help to Buy shared equity scheme involves a Government loan of up to 20% and is available on new-build properties up to the value of £600,000. There is no salary cap for purchasers using the scheme. As Help to Buy customers only require a 75% loan-to-value mortgage for their new property, they can access a much more competitive range of deals from lenders – making it even more affordable to live in this sought-after new community.

About Kingshill Grange

Situated on the leafy northern outskirts of High Wycombe, Kingshill Grange is in an ideal spot for City commuters looking to escape the hustle and bustle of central London, as well as for those in search of a peaceful but well-appointed place to raise their families.

Parents will appreciate that the development is conveniently placed for a variety of well-regarded schools for children of primary school age. Secondary education, meanwhile, is provided by The Royal Grammar School, Wycombe High School for girls, John Hampden Grammar School for boys and Cressex Community School.

Kingshill Grange enjoys excellent road links to the M40, M25 and the A404, and is just over a mile from High Wycombe railway station, which offers regular services to London Marylebone in less than 40 minutes.

To find out more about making a speedy move to Kingshill Grange, property-seekers should visit the Sales Information Centre, located off Kingshill Road, High Wycombe, HP13 5BB, and open daily from 10.30am to 5.30pm

To find a new home under the HelptoBuy Scheme in another area, browse the latest homes from Taylor Wimpey on SmartNewHomes

 

Taylor Wimpey UK, part of Taylor Wimpey plc, is one of the largest residential developers in the UK, developing new homes and communities across the country. Taylor Wimpey operates from 24 regional offices across England, Scotland and Wales and builds over 10,000 homes each year. Taylor Wimpey is a responsible homebuilder that is committed to health and safety, environmental sustainability, providing excellent customer service and engaging with local communities.

Taylor Wimpey has a range of offers to help first time buyers purchase a home of their own and in 2012 it sold 32% of its homes to first time buyers

HelptoBuy success as housebuilders increase output

The Help to Buy equity loan has had a “flying start” which will help housebuilders significantly increase their output, according to the Home Builders Federation (HBF). HBF’s figures show that around 4,000 new home reservations have been made in the two months since the initiative was launched – an average of 500 a week. Large housebuilders have seen the effect in higher visitor numbers and reservations and are reporting increases in output to meet demand.

According to Barratt ceo Mark Clare, the firm’s completions this year are set to be 20% higher than two years ago as demand improves. “Post the Budget announcement, compared with last year, we saw reservations step up 18% and visits to the Barratt website increase by around 30%,” said Clare. “Our production will rise to meet higher levels of demand.” Other major home builders concur. Persimmon’s group ceo Jeff Fairburn confirmed that the firm has increased its build activity to meet the increase in demand and will “make significant further investment” in apprentices to support the anticipated increase in output, while Taylor Wimpey’s ceo Pete Redfern reported that the Help to Buy equity loan would allow the company to build more homes on sites already open. Under the initiative, the government provides an equity loan of up to 20% to customers with at least a 5% deposit, creating a 75% LTV mortgage offer. Stewart Baselely, HBF’s executive chairman, said: “The large deposits required in recent years to secure a mortgage have prevented many from buying – and as a result, builders from building.

The equity loan scheme helps consumers overcome that deposit barrier and as a result the scheme will undoubtedly lead to an increase in housebuilding. This in turn will create jobs and deliver an economic boost.”

Customer focus is key at Taylor Wimpey

Having spent 23 years in the housebuilding trade, Elaine Taylor knows only too well that the most important factor in the industry is the customer.

So when the opportunity arose to join Taylor Wimpey West Midlands as Sales and Marketing Director, she didn’t hesitate, as she knew the leading housebuilder was renowned for delivering the very best customer service. “The reason I wanted to work for Taylor Wimpey was its brilliant reputation for customer service,” says Elaine. Earlier this year, Taylor Wimpey received the maximum five-star rating for customer satisfaction from the Home Builders Federation (HBF) for the second year in a row.

“To be a five-star builder is a great accolade and speaks volumes for how seriously we take the customer’s needs. Compared to when I started out in this career, the homebuyer has become a great deal more discerning, and at Taylor Wimpey we have to put in a lot of work to make sure we meet the high standards they expect from us. There’s a lot of competition between developers, and so we have to get things right first time, or the customer will go elsewhere. If a customer is impressed with you, they’ll spread the word, and probably more so if they are not happy – so reputation is everything, and Taylor Wimpey has a very good one.”

Elaine’s career began with a part-time sales advisor position for Second City Homes, later to become Beazer Homes, before she progressed to roles with other national housebuilders. For the past 12 years she has enjoyed success in management roles, before returning to her native West Midlands in August 2012 with Taylor Wimpey, which has its regional office in Solihull.

Elaine, who originally hails from the Midlands, is excited to be back on the patch she knows best, and is currently responsible for new homes developments across the West Midlands, Warwickshire, Worcestershire and Shropshire in her new role.  “Location is a fundamental consideration when we are planning new developments,” she says. “Our excellent sales track record demonstrates we have a real knack for selecting locations which are irresistible to a wide variety of buyers.”

As Sales and Marketing Director, Elaine is involved with overseeing the progress of Taylor Wimpey’s new homes developments every step of the way. “I’m involved with a site from the moment we purchase the land through to project completion,” says Elaine. “But our responsibility to the homebuyer doesn’t stop once we hand them the keys to their new home – the after-sales care we provide to all of our customers is something we pride ourselves on as a company. “Buyers not only benefit from a two-year Taylor Wimpey warranty, we visit each and every customer after they have moved in, and do everything we can to make sure they are happy with our service. Our five-star rating in the independent HBF customer service survey shows we are getting things right.”

Elaine is also pleased to see the positive impact the Government’s new Help to Buy shared equity scheme is having on both first-time buyers and those with a property to sell since it was launched in April 2013. “Help to Buy is just one of the many effective tools we have to help people realise their dream of home ownership,” she says. “There are so many people who can comfortably afford monthly mortgage repayments, but are struggling to save large deposits, and Help to Buy means they can now become homeowners.

“We also offer 95% mortgages through the NewBuy scheme, we have Part Exchange and the easymover incentive which helps people sell their home and our own shared equity scheme on selected developments. Whether someone’s a first-time buyer, looking to move up in the world or downsize, we can offer them help, and that is one of the most satisfying aspects of my job.”

To find your perfect First home, browse the latest homes by Taylor Wimpey on SmartNewHomes

Dandara Homes launches HelptoBuy

Developer Dandara are pleased to announce the launch of the new Help to Buy government backed scheme open to all purchasers at their stunning Image Development, Hemel Hempstead. This scheme enables all prospective purchasers, not just First Time buyers to take a step onto the property ladder. Help to Buy replaces the highly successful first Buy scheme providing the facility to far more people than before.

To qualify for the scheme the purchaser needs to provide a 5% deposit and be looking at a property below £600,000.00. The Homes and Community Agency (HCA) will then provide a further 20% as a loan leaving the purchaser to secure a mortgage of 75 %.( please see example)

Bev Lucas, Senior Sales Manager comments “The Help to Buy scheme will open up the government assistance to a much wider audience, retaining the realistic level of deposit at 5%. This enables purchasers to access a wide range of 75% loan to value mortgages and the benefits of low interest rates. This is still and equity loan so 100% of the property is yours. This scheme becomes live on 1^st April 2013 and we would urge anyone interested to contact us immediately as we expect this offer to be extremely popular.”

We would also like to thank Lea Valley Homes for their professional and timely processing of all the applicants on First Buy and look forward to the same success with Help to Buy.

If you’re looking for Help to Buy a new home, register your interest with Dandara on SmartNewHomes, book a viewing and request brochures for homes you’d like to view.