Househunters already getting 'Help To Buy' in Milton Keynes

When the Chancellor announced a new shared equity scheme to boost the housing market in his budget speech, Persimmon Homes was one of the first house builders to respond.

Within hours, Persimmon was receiving hundreds of enquiries about Help To Buy, and the first sales under the scheme are already being processed in Milton Keynes.

Getting that first foot on the housing ladder can be a daunting step for first time buyers. But it has also been difficult for those people needing to move up to a bigger property, relocate or even downsize.

Persimmon sales teams across the Bedfordshire area have had comprehensive training on Help To Buy, and are fast becoming industry experts on what the scheme means to customers.

Suzanne Irons, Sales Director of Persimmon Homes Midlands, said: “Help To Buy is available to anyone buying a new-build home up to the value of £600,000. All you need is a five per cent deposit.

“The Government will put in up to 20 per centre through an equity share loan, the remainder will be funded by a repayment mortgage. The loan can be paid back at any time over the next 25 years, or when you sell the home, and there is no interest to pay on this portion for the first five years.

“The scheme is very similar to the hugely successful FirstBuy, which has helped thousands of first time buyers take their initial steps onto the housing ladder. The difference now is that funding is available to help everyone, not just first time buyers, and this scheme does not have the same maximum income restriction as FirstBuy.”

The Government has allocated funding for the scheme for three years, and it is hoped that over that period the supply of low-deposit mortgages will be boosted.

Suzanne added: “Help To Buy is available at our Milton Keynes developments at Oxley Springs and Oakridge Park, at Berryfields in Wootton and also at The Steeples at Calvert where our knowledgeable sales advisors are waiting to guide you through the scheme.”

For more information, visit persimmonhomes.com/help-to-buy.