Affordable New Homes in the South West Through Help to Buy
Posted 18 September 2018 by
Rupert BatesIf you are looking for a new home in the South West, Help to Buy could make this process much more affordable.
Help to Buy is a government-backed scheme which aims to make getting on the property ladder much less daunting. The government provides the buyer with a 20% equity loan on a five-year interest-free basis. With 20% covered, the buyer would have to provide just a 5% deposit of the property’s value in order to secure the home. The remaining 75% is the mortgage. After five years, you start to pay interest monthly on the Help to Buy loan, and when you sell up, you will pay the government 20% of the sale price.
This is a very popular scheme for both first-time buyers and previous homeowners – have a look at what you can buy in the South West through Help to Buy now.
On the outskirts of Falmouth, Union Park offers a variety of two-, three- and four-bedroom homes. The location is perfect as you are a short drive from the A39, allowing access to Truro and the rest of Cornwall and it gives easy access to beautiful beaches and a variety of good schools.
The homes have enhanced insulation and energy-saving fixtures and fittings to keep your home the perfect temperature, keep out noise and reduce bills. Show homes are open for viewings Thursday to Sunday 10.00am to 5.30pm and also on Mondays, between 12.30pm and 5.30pm.
Example: Three-bedroom, end-terraced home, £300,000
Deposit 5% = £15,000
Help to Buy loan 20% = £60,000
Mortgage 75% = £225,000
Approximate household income needed, £75,000
This consists of 91 two-, three- and four-bedroom homes set on the edge of the town, where there are many amenities available, from shops and pubs to leisure facilities and a museum. The area is also within close reach of the Devon countryside, perfect for everyone who loves the great outdoors.
These houses are designed and built to fit in the style of traditional buildings, and with comfort and efficiency in mind. The marketing suite is now open three days a week: Thursday, Friday and Saturday between 10.00am and 5.00pm.
Example: Four-bedroom house, £295,000
Deposit 5% = £14,750
Help to Buy loan 20% = £59,000
Mortgage 75% = £221,250
Approximate household income needed, £73,750
This new development is made up of one- and two-bedroom apartments, as well as two-, three- and four-bedroom houses. Adjoining with Poole Harbour and views over Twin Sails Bridge, this development is in one of the most desirable locations in the South West. These developments all have modern internal features such as designer kitchens with integrated fridge and freezer, thermostatically controlled shower and multi-locking point, double glazed windows.
The open-plan design is perfect for those looking for more a more spacious living space. Poole is a vibrant and scenic town, yet there is the opportunity to unwind with your family at the variety of parks and play areas within the development.
Example: Two-bedroom apartment, £270,000
Deposit 5% = £13,500
Help to Buy loan 20% = £54,000
Mortgage 75% = £202,500
Approximate household income needed, £67,500
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