Thousands take advantage of Help To Buy scheme
PUBLISHED: 09:00 23 May 2018
More than 3,400 people in Somerset have used a Government scheme to buy a new home.
Help To Buy launched in April 2013 to allow buyers 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.
Across Somerset a total of 3,411 people used Help To Buy – 843 in North Somerset and 596 in Sedgemoor.
Barratt Homes sales director Andrea Pilgrim said: “New homes are cheaper to run than older homes, you have a blank canvas to make it your home and there is a 10-year warranty for peace of mind.
“And when you factor in the financial benefits of Help To Buy you can see why people choose a new home.
“We see first-time buyers who are not aware of the scheme and have a pleasant surprise when we explain the details and how it can help them become homeowners.”