The Government has pledged an extra £10bn to support Help to Buy. But what kind of home can you get under the scheme? We’ve found 6 of the best on Zoopla.
In her recent Conservative Party Conference speech, Prime Minister, Theresa May announced an additional £10bn of funding towards Help to Buy.
The scheme – which offers a Government loan of up to 20% of a property’s value – offers a leg-up to first-time buyers (and home-movers) who can only raise a 5% deposit.
(You can find out more about how Help to Buy works with our guide.)
It’s available on new-build homes up to a maximum value of £600,000. But what can you buy? Here’s a taster.
1. Four-bedroom detached house in Pocklington, York, for £340,995
Remember Help to Buy isn’t a scheme confined to first-time buyers – in fact this immaculate four-bedroom home is more likely to be a second or third step on the property ladder. It comes with two en suites, family bathroom and separate WC – as well as a detached garage and a west-facing garden.
Available via David Wilson Homes
2. One-bedroom flat in Hoxton, London, for £550,000
Even armed with a 5% deposit (of £27,500) and a 20% government loan of (£110,000), this east London flat would still require a mortgage of more than £400,000.
The good news is, under Help to Buy London – an extension of Help to Buy which launched last year – the Government doubles its equity loan offering to 40%.
Available via Foxtons
3. Three-bedroom property in Taunton, Somerset, for £280,000
How about a brand-new Help to Buy home by the water? This one, which overlooks The Bridgewater and Taunton canal, has dining room doors which lead out onto a waterfront terrace. The third-floor living room also takes full advantage of the view.
Available via Crest Nicholson
4. Three-bedroom semi-detached house in Burntwood, Staffordshire, for £217,995
Help to Buy is available on this chic three-bedroom new-build which sits just a stone’s throw from Chasewater Country Park. While Burntwood itself offers plenty of amenities, the spot is also ideal for commuters with Birmingham, Wolverhampton and Stafford all within a 40-minute drive.
Available via Barratt Homes
5. Four-bedroom detached house in Bangor, Wales, for £280,995
The value cap on Help to Buy in Wales is set at a much lower £300,000. But that doesn’t discount this impressive detached family home on the outskirts of Bangor.
While the outside design is reminiscent of the 1930s, inside the layout is contemporary with an open plan kitchen/diner, utility room and master bedroom with en suite.
Available via Redrow
6. Two-bedroom terraced house in Falkirk, Scotland, for £132,000
The maximum Government loan you can get under the Scottish Help to Buy scheme – known as the Affordable New Build Scheme – is only 15% of the property value. But, with homes like this one in Falkirk ringing in at just £132,000, the money you do have should stretch a lot further. This developer is also offering part exchange for your existing home.
Available via Persimmon