Affordable New Homes in the East Midlands Through Help to Buy
Posted 24 September 2018 by
Rupert BatesHelp to Buy is a government-backed scheme that promises a more affordable and simple way of climbing the property ladder.
To make saving for a house much more affordable and quick, Help to Buy means that with just a 5% deposit from the homeowner, the government provides an equity loan of 20% of the property value. This loan is interest-free for the first five years. You'll need a mortgage for the remaining 75%. After five years, you start to pay monthly interest on the Help to Buy loan over the period that you own that property, paying the government 20% of its value when you sell it.
Help to Buy is a growing scheme that is helping both first-time buyers and previous homeowners get on, or climb, the property ladder. Explore the range of affordable new Help to Buy homes in the East Midlands.
This peacefully setting of Rothley Meadow includes two-, three-, four- and five-bedroom homes. Prices range from £255,000 to £525,000 on these houses and they offer a range of designs and specification options. This area is ideal for those that enjoy the peace and quiet, as it borders Rothley village and is surrounded by fields. However, there is plenty of travel links to ensure that city life is never too far away.
Whether it is schools or countryside walks, Rothley Meadow has all the amenities necessary for singles, couples and families. The show homes here are open daily, from 11.00am to 5.00pm.
Example: Two-bedroom house, £255,000
Deposit 5% = £12,750
Help to Buy loan 20% = £51,000
Mortgage 75% = £191,250
Approximate household earnings needed, £63,750
This development of two-, three, four- and five-bedroom houses is perfect for whether you’re looking for your first home or need more space for a growing family. The prime location provides combination of rural surroundings and convenient reach to local towns. There are plenty of schools available for young families thinking of moving here.
The local community, road and rail links and surroundings make Weldon Park a great place to live. Houses start from £170,000 and range up to £280,000. Show homes are available to view from Thursday to Monday, between 11.00am and 6.00pm.
Example: Three-bedroom house, £197,000
Deposit 5% = £9,850
Help to Buy loan 20% = £39,400
Mortgage 75% = £147,750
Approximate household earnings needed, £49,250
This development of new homes is right on the outskirts of the town in Oakham. It is made up of two-, three-, four- and five-bedroom homes, suited for buyers looking for a property in a rural area. Oakham is a traditional market town with plenty of restaurants, shops and pubs available.
The excellent road links make it easy for those who need to commute to other areas of the East Midlands. This development is perfect for both first-time buyers as well as those looking for a more modern property in the best rural place to live, as voted by the Halifax Rural Areas Quality of Life Survey. Larkfleet Homes has show rooms available for public viewing seven days a week from 10.00am to 5.00pm.
Example: Two-bedroom house, £170,000
Deposit 5% = £8,500
Help to Buy loan 20% = £34,000
Mortgage 75% = £127,500
Approximate household earnings needed, £42,500
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