Move Quick To Use Help To Buy With CALA Midlands

First-time buyers and second steppers are being urged to move quickly in order to secure their new home with just a 5% deposit. The last remaining two-, three- four-bedroom properties are now available at CALA Homes’ Midlands developments through the government’s Help to Buy scheme.

Currently available for both first time buyers and home movers, the Help to Buy scheme sees the government provide an equity loan of up to 20% of the purchase price of the property, meaning buyers only need to find a 5% deposit and secure a mortgage for the remaining 75%. From April 2021, the upper limit to buy a property with Help to Buy is being reduced from £600,000 to £255,600 in the West Midlands, £437,600 in the South East, and £349,000 in the South West. In addition to the reduced price caps, the scheme will soon only be available for first-time buyers, meaning this really is the last chance for second steppers to make the most of the equity loan.

The final date for home buyers to reserve a home under the current Help to Buy scheme is 15 December 2020. CALA Homes has a number of developments in its Midlands region which will be affected by these Help to Buy changes, and thus the housebuilder is encouraging house-hunters to move quickly to avoid missing out.

In Warwickshire, Priors Crescent in Salford Priors has a limited number of two-bedroom homes remaining ideal for first-time buyers, young families and downsizers. These homes are generous in size, ranging from 881 to 942 sq ft, and feature an impressive sitting room with French doors opening out to the rear garden, a separate kitchen/dining room and a downstairs cloakroom. Upstairs, the main bedroom is complete with fitted wardrobes and en suite, while the second bedroom is served by the family bathroom. The properties boast an abundance of clever storage and two car parking spaces.

At its 59 Lansdown development, located near the stylish eateries and chic boutiques of the Montpellier district and within walking distance of Cheltenham town centre, CALA Homes has a selection of one and two bedroom apartments available. Priced from £385,000, the two-bedroom apartments boast a generous open-plan kitchen/lounge/dining room with a balcony, spacious bedrooms with a master en suite, and a handy utility room. The apartments offer low maintenance and energy efficiency with a high specification and attention to detail throughout and have been popular with first-time buyers who have made the most of the Help to Buy scheme to move to this stunning area of Cheltenham. All are lift serviced and come with private parking.

Show home at 59 Lansdown

For second steppers who are looking to make the most of Help to Buy while they can, to trade up on their existing home, CALA Homes has a couple of three-bedroom homes at Kingsmere in Bicester. ‘The Hampton’ is a three-storey property, offering spacious living and well-proportioned bedrooms, with the added benefit of a separate home office – which has become important for homebuyers since the lockdown. CALA has seen a number of purchasers at this development use the Help to Buy scheme to both get them onto the property ladder or to move up to a larger home.

One CALA purchaser who used Help to Buy to purchase their new home, said: “The Help to Buy scheme was really useful for us as it not only supported us with saving up for a deposit, but offered flexibility in terms of how much of our own money we would need to put down as a deposit for our first home. This made us feel very in control of our purchase and we didn’t feel like there was a lot of pressure on us financially – it also meant we had money to buy furniture and decorate once we’d moved in.”

Neil Simpson, sales and marketing director for CALA Homes Midlands, said: “The Help to Buy changes which come into effect in April 2021 will affect a number of our developments, where homes which were formerly within the price bracket now fall outside of it. This means first-time buyers may be more limited as to the choice of properties available to them and second-steppers who are perhaps hoping to upsize or trade up from an apartment to a house will not be able to do so on the scheme. Combined with the Stamp Duty holiday there really is no better time to purchase a CALA home, and with a number of properties ready for completion this winter, you could be in your new home sooner than you think.”

Find out more at www.cala.co.uk.

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