Taylor Wimpey welcomes new Government housing schemes
Taylor Wimpey, homebuilder with a popular development in Hermitage, has welcomed the Government’s new Help To Buy housing measures which aim to help over 75,000 buyers across the country purchase a new home.
Darren McCormack, regional sales and marketing director, said the new measures were good news for local buyers who could not otherwise afford to buy because of the large deposits required by mortgage lenders.
He commented: “We’ve seen some very positive signs that recovery in the housing market in Hermitage is now underway and the measures announced by the Chancellor will go a long way towards boosting confidence and encouraging further improvement. Initiatives such as these really do make all the difference to those who thought home ownership was well out of their reach. We are delighted that we will now be able to offer the Government backed Help to Buy scheme on our Sonnet’s Place development in Hermitage which will help prospective buyers make the move into their dream new home.
“We’ve had fantastic success with previous Government schemes such as NewBuy and FirstBuy; in fact in 2012 we supported 1,750 people across the UK buy a new home using the initiatives. The new Help To Buy scheme is sure to prove just as popular and will make a huge difference to both first and second time buyers who can afford the monthly repayments on a mortgage but not the hefty deposit.”
The proposed Help To Buy measures include an equity loan scheme which will be available on new build properties up to the value of £600,000. There is no salary cap for purchasers using the equity loan scheme, and it is available to both first time buyers and existing home owners alike. Eligible purchasers will receive a Government loan of 20%, which means that they only need to put down a 5% deposit and obtain a 75% loan-to-value mortgage.
The existing Government backed NewBuy scheme is still available on homes up to £500,000. With NewBuy, credit-worthy first time buyers only need to save a 5% deposit before they can get on the property ladder; whilst existing homeowners can also benefit from the increase in availability of 95% loan to value mortgages.
Darren added: “One of the many advantages of a new build property is that we can offer a variety of incentives and schemes suitable for all types of buyers. I’d urge anyone who wants to move but thinks they can’t afford the deposit or are having difficulty selling their existing home to visit one of our developments today. Our experienced sales executives will be able to talk you through the options and incentives available and you could be moving into your dream home before you know it.”
Taylor Wimpey is currently selling three and four bedroom homes and its new development, Sonnets Place, in Hermitage. Prices start from just £265,000.
Situated in the picturesque village of Hermitage, Sonnets Place is the perfect place to set up home. Hermitage enjoys a beautifully scenic backdrop, being surrounded by breathtaking countryside and woodlands. The village itself provides everything you need for day to day living, with a general store, post office, butchers, pubs, coffee shop, doctors and dentists. Tesco and Sainsbury’s supermarkets are just five miles from the development and Newbury town centre is less than six miles from your door.
Hermitage Primary School is within walking distance of the development and for older children; Park House School and Newbury College are also nearby. Living in Hermitage you're well connected thanks to the easy access to the A34 and M4 providing access to almost anywhere in the country. When you want to leave the car at home, Newbury and Thatcham rail stations are both just four miles away, offering services to Reading and London Paddington.
For further information, visit taylorwimpey.co.uk.
