Member Article

Help to Buy Helps the North West

Recent statistics have had the media buzzing with information about Help to Buy, the Government’s scheme to help first-time-buyers and second-steppers afford new homes. Since its inception in 2013, over 88,000 people have taken advantage of the scheme and bought new homes that they wouldn’t have been able to afford before.

The North West in particular, is seeing the benefits too, as over 11,000 people have bought homes through the scheme in the region.

The Government appointed Help to Buy Agent for the North West, Plus Dane, thinks the scheme has had ‘an overwhelmingly positive impact’ on the North West, for home buyers and developers alike.

In the role as the Help to Buy agent, Plus Dane work with aspiring home-owners to provide advice and support for those seeking affordable homes.

“Since 2006 we have helped thousands of people to buy a home they can afford. It’s great to be the North West appointed agent for Help to Buy and to carry that work out across the whole region,” says Sandy Kelly, Head of Help to Buy North West.

“The scheme has had an overwhelmingly positive impact on the North West and it is great to hear from our customers about how Help to Buy has made it possible for them to buy a home.”

Help to Buy has also had a positive impact on the construction industry in the North West. One of the schemes, the Equity Loan scheme, is solely for new build homes, which has led to an increase in house building, nationally and regionally. This has helped to ensure the long-term health of the housing and construction market through the stimulation of house building. Nationally, annual housing starts and planning approvals are at a seven-year high.

Help to Buy North West works with almost 200 developers across the region, to help connect potential buyers with Help to Buy properties across multiple sites. One such developer is Lovell. The 40 year old company has sold 40% of its properties through Help to Buy since 2013.

“Help to Buy has been a lifeline for many of our customers; often meaning the difference between being able to afford a home of their own or having to rent or live with parents,” says Clare Noakes, regional sales manager for Lovell in the North West.

“While the scheme’s provided a major boost to first time buyers, enabling them to purchase with just a 5% deposit, it’s also helped many families move up the property ladder to a much-needed larger home.

“Since its launch, 40% of the homes we have sold have been through Help to Buy.”

In addition, North West-based builder Rowland, have found Help to Buy to be a ‘great selling tool’ for the developers, showing that the scheme does have a positive impact on house-builders.

“At Rowland, we have found the Help to Buy scheme to be a great selling tool. It has assisted buyers to purchase homes up to £595,000, with 45 completions set from 1 April 2014, to 31 March 2015,” says Stephen Grant, sales and marketing director for Rowland.

“Young couples with small families have been able to buy homes big enough for them to grow, reducing the need to move in the short time, and it has allowed them to buy in better locations that give better access to great schools.”

Help to Buy have been hosting housing shows up and down the country, with the first North West exclusive show coming to Manchester Central on 28 March. Tickets are free to download here, and attendees will be able to talk to over 50 different exhibitors and receive advice on the legal and financial aspects of buying a home, alongside talking to different developers, such as Lovell and Rowland, about their available properties.

This was posted in Bdaily's Members' News section by Amelia Heathman .