The newly launched five per cent deposit scheme is now exclusive to first time buyers and is available with new homes which are built after April 1, 2021. Available throughout England, there are regional price caps in place which limit the price on Help to Buy homes, which in Sussex is £437,600. This means that home buyers throughout the county will be able to purchase a range of new homes with the support of Help to Buy.
Local housebuilders Barratt and David Wilson Homes are fully registered with Help to Buy and are ready to assist prospective buyers at their new homes developments throughout the county.
Natalie Perry, sales director at Barratt David Wilson, said: “The launch of this new first time buyer-focused Help to Buy scheme is one to be welcomed in Sussex. As well as reducing the upfront deposit typically required for those first time purchasers, it helps make monthly mortgage payments more affordable – especially when compared with rates typically available with a 95 per cent mortgage.”
“Help to Buy will prove especially appealing to those who have limited access to the bank of mum and dad, as well as those who may be caught in the rental trap and finding it hard to make additional savings.”
With Help to Buy, buyers are able to purchase a new home with just a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is funded by an equity loan, interest-free for the first five years and repayable on the sale of the home.
In Sussex, the developments are Chalkers Rise in Peacehaven, Wychwood Park in Haywards Heath, Meadowburne Place in Eastbourne and Rosewood Park in Bexhill
For more information about Help to Buy, call the Barratt and David Wilson Homes sales teams on 0333 355 8498 / 0333 355 8503 or visit www.barratthomes.co.uk/ www.dwh.co.uk.