Young house-hunter secures a home of her own thanks to Help to Buy
With tougher mortgage lending restrictions and increasing rents making it more and more difficult for young people to save enough money to buy a home of their own, it is the government-backed Help to Buy scheme which has made all the difference to Abigail Jarvis, who has bought a brand new Lovell home at the age of 23.
Fashion and business studies graduate Abigail has been able to afford a three-bedroom house at Lovell’s Eaton View development in Nuneaton, Warwickshire, thanks to the Help to Buy equity loan, which provided 20% of the purchase price, allowing her to secure a home with a deposit of just 5% and move out of her parents’ house in west Birmingham.
“Without Help to Buy I probably wouldn’t have been able to go ahead,” she says. “When I was looking to purchase through Help to Buy, Lovell Homes was a name which really stood out, and having visited the development, Eaton View was always the front-runner, with an impressive and well laid-out show home.
“Other homes I looked at were in a similar price range but the home I’ve bought – Lovell’s three-bedroom ‘Farewood’ house style - is a more interesting design and offered me more space for my money. Having three bedrooms means I can spread out and have a spare bedroom if someone comes to stay.”
With many surveys showing young house-hunters expecting to be in their 30s before being able to lay down a deposit on a first home, Abigail has certainly proved that that doesn’t have to be the case.
She has not been idle since she moved in, seconding boyfriend Jordan to help decorate the home to her taste. “I like having my own space and the luxury of everything being brand new,” Abigail adds.
Her move has allowed her to significantly reduce her daily commute from two hours to 35 minutes, with good transport links from Eaton View, including the M5, A5 and A444. Nuneaton’s station is just two miles away, providing services to London, Birmingham, Manchester, Liverpool and Stansted Airport.
Lovell field sales manager Sian Lewin says: “We’re delighted that Abigail has found the right home for her at Eaton View. A brand new home is a great choice for busy young professionals while the availability of the Help to Buy: Equity Loan can help you get even more for your money. We’ve got plenty of experience in assisting people to buy using a Help to Buy: Equity Loan, so just give us a call if you would like to find out more.”
Currently available at Eaton View are a range of home styles including the popular ‘Featherston’ two-bedroom house, from £128,950 (£103,160 up-front with a Help to Buy equity loan) and the ‘Garthwood’ three-bedroom house, from £147,950 (£118,360 up-front with Help to Buy).
Eaton View’s marketing suite and show homes are open from 11.00am to 5.00pm on Mondays and on Thursday to Sunday from 10.00am to 5.00pm.
Find out more about Eaton View from Lovell.