Help To Buy helps thousands of homebuyers across Somerset
PUBLISHED: 17:30 09 November 2017
Almost 3,000 homeowners in Somerset have used the Government’s Help To Buy scheme since its launch four years ago.
Figures show the scheme has helped 2,913 people get on the property ladder since April 2013, by allowing both first time buyers and homeowners to put down a five per cent deposit on a home worth less than £600,000.
The Government then lends the buyer 20 per cent of the property’s value through a five-year interest-free loan.
Almost 700 people have taken advantage of the initiative in North Somerset, while more than 530 have used it in Sedgemoor.
Barratt Homes sales director Andrea Pilgrim said: “It is great to see so many people benefitting from the scheme which makes home ownership more affordable.
“It’s vital that we keep spreading the word that buyers need just a five per cent deposit to buy a new home, and these latest figures demonstrate how popular the scheme has become.”