Affordable New Homes in East Anglia Through Help to Buy
Posted 27 September 2018 by
Rupert BatesHelp to Buy is a government-backed scheme that provides assistance for those looking to buy a new home, both first-time purchasers and previous homeowners.
With Help to Buy, you would only need to pay a deposit of 5% of the property value. The government then offers a 20% equity loan, interest-free for the first five years. The remaining 75% would be your mortgage. Once the five years is up, you’ll be responsible for the monthly interest payments on the Help to Buy loan. When the home is sold, you’ll pay the government back 20% of the sales price.
This is an extremely popular scheme for those looking to get on the property ladder by purchasing a new build, in a quicker and more affordable way. Some examples of what you could by with Help to Buy in East Anglia are listed below.
This new Hertfordshire development has a variety of three-, four- and five-bedroom houses, starting from £340,000. The location is more than convenient for grocery shopping, socialising and studying at the local library - an ideal area for growing families. The modern layout and interior of the house is spacious and light, leaving enough room for the family, or entertaining.
A 20-minute drive to Cheshunt station would see you in Liverpool Street in 20 minutes, for those who travel to London for work or pleasure. The show homes are open to the public daily, from 10.00am to 5.00pm.
Example: Three-bedroom house, £340,000
Deposit 5% = £17,000
Help to Buy loan 20% = £68,000
Mortgage 75% = £255,000
Approximate household earnings needed, £85,000
Located close to the River Nene, Fletton Quays hosts new one-, two-, and three-bedroom apartments. This area offers great road and rail links to London (a four-minute drive to the mainline station), Essex and the rest of Cambridgeshire.
Each apartment, whatever the size, is fitted with a modern and luxurious kitchen and other fittings. There is also allocated parking, so parking. These apartments start at £172,000, and are available to view daily between 10.00am and 5.00pm.
Example: One-bedroom apartment, £172,000
Deposit 5% = £8,600
Help to Buy loan 20% = £34,400
Mortgage 75% = £129,000
Approximate household earnings needed, £43,000
Located in the Edwardian seaside town of Felixstowe, Walton Gate is made up of two-, three- and four-bedroom houses, ranging from £205,000 to £277,000. These 125 new homes are located just over a mile away from one of the best high streets in the country - this location is perfect for both singletons and families.
Barratt ensures that their homes are between 45% and 55% more energy efficient than older homes of the same size. There are two show homes available for viewing on Tuesday to Sunday from 10.00am to 5.30pm and also on Mondays between 12.30pm and 5.30pm.
Example: Two-bedroom house, £207,000
Deposit 5% = £10,350
Help to Buy loan 20% = £41,400
Mortgage 75% = £155,250
Approximate household earnings needed, £51,750
Useful links
Search Help to Buy
Find out about all Fairview New Homes current properties
Find out about all Weston Homes current properties
Find out about all Barratt Homes current properties
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What is a Help to Buy ISA?
The buying process Q&A
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10 mortgage questions to ask
Repaying your Help to Buy equity loan
How to use your equity to help your kids buy a new home
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