Insights & advice

Thousands reserve a home using Help to Buy scheme

Thousands Find Homes Using Help To Buy Scheme | Middletons Solicitors 

Four thousand people reserved a home through the Help to Buy scheme in the two months since it came into effect in April.

The Home Builders Federation is delighted with the response and says the industry will have to significantly increase the output of new homes.

The Help to Buy: equity loan scheme applies to new build properties only. It expands the former First Buy scheme and is now available to everyone, not just those buying their first home.

To qualify you will need a minimum deposit of 5%. The Government will then lend you up to 20% of the value of the property through an equity loan. This can be repaid at any time or on the sale of the home.

It means you could buy a property with just a 75% mortgage from a bank or building society.

This scheme will run for three years, providing £3.5bn of additional investment in housing.

Stewart Baseley, Executive Chairman at the Home Builders Federation, said: “Help to Buy has got off to a flying start. The large deposits required in recent years to secure a mortgage have prevented many from buying – and as a result, builders from building.

“The Equity Loan scheme helps consumers overcome that deposit barrier and as a result the scheme will undoubtedly lead to an increase in house building.”

Please contact Ingrid Hindle or Jo Ayrton in our Warminster office on 01985 214444 or Sandra Smith in Westbury on 01373 865577, or email if you would like more information about the legal aspects of buying and selling a home.

We provide client focussed legal advice and assistance.

Our solicitors strive to deliver the best advice and assistance and an outstanding customer experience.

We serve our customers right the way across Wiltshire and Hampshire with offices in Warminster, Amesbury and Stockbridge.

Enquire about our services today.

Just a short note to once again express my sincere thanks to you, Sue and the M&U team, for all your help, cooperation and first class professional support. I am most grateful to you all.

Chris Stephenson, Warminster

Middletons Solicitors uses cookies to ensure that we give you the best experience on our website. If you continue we assume that you consent to receive all cookies on this website.