Member Article

Hundreds use Help to Buy in Bristol

A government initiative is helping hundreds of families in the Bristol area get on to the housing ladder. New figures released by the Homes and Communities Agency (HCA) reveal that a total of 1,336 homebuyers in Bristol and surrounding areas used the Help to Buy scheme since it was launched three years ago.

More than 85 percent of those using the scheme have been first time buyers, with 1,142 homes being bought by ‘first timers’ using Help to Buy.

Local housebuilder Barratt Homes is encouraging homebuyers to take part in the popular scheme which has already helped tens of thousands of people across the country to buy a brand new home. The scheme enables anyone, both first time buyers and existing owners, to put down just five per cent as a deposit for their new home and to take advantage of a government equity loan providing access to more affordable mortgage rates.

Andrea Pilgrim, sales director for Barratt Homes, said: “The Bristol area has produced some strong results for the Help to Buy scheme and it is great to see such high figures for the scheme in the area. Help to Buy has proved so helpful to so many homebuyers and we would encourage anyone looking to buy a home with lower upfront costs to get in touch.”

Help to Buy allows any homebuyer to secure a brand new home under the value of £600,000 with just a five per cent deposit. The government lends the buyer 20 per cent of the value of the property in the form of an interest free equity loan for five years, meaning that buyers then gain access to some of the great mortgage rates currently available with just a 75 per cent mortgage. Available to all homebuyers, not just first timers, the scheme helps anyone looking for a boost up the property ladder.

On the Barratt Home website there is lots more information on Help to Buy -http://www.barratthomes.co.uk/Offers/Help-to-Buy/ together with a handy calculator which shows how much people can borrow using the scheme.

Barratt Developments has helped more than 18,500 people buy their home through government-backed schemes such as Help to Buy, FirstBuy and HomeBuy Direct, more than any other housebuilder.

Barratt Homes is currently working on new developments in Bristol including Park Farm, St Mattias and Bilbie Green. For more information call 0844 5710 385 or visit www.barratthomes.co.uk.

This was posted in Bdaily's Members' News section by Barratt Homes .