Find out how help to buy could help you buy

As house prices rise at their fastest rate in more than six years and more people look to buy fuelled by increased mortgage approvals, Elan Homes is inviting people to find out all there is to know about Help to Buy.

Thousands of buyers across the country have already used the Government-backed scheme to purchase a brand new home at an affordable price with the aid of an equity loan.

This weekend (October 12/13) house hunters in Audenshaw will be given a step by guide to the scheme thanks to Elan and Help to Buy agents Plumlife.

“Latest statistics from property analysts Hometrack suggest that house prices are rising at their fastest rate since May 2007 providing further evidence of a housing market recovery. At the same time the Bank of England has reported a sharp rise in mortgage approvals, which is encouraging more people to think about buying,” says Marie Morris, sales director for Elan Homes in the North.

“We want to help aspiring homeowners and so this weekend, in conjunction with Plumlife, we’re holding an event at Parklands to explain all about Help to Buy. We’ll be guiding customers through the scheme and letting them know just how easy it could be to afford one of our brand new homes.”

To purchase a property with Help to Buy customers will typically need a 5% deposit, plus a 75% mortgage. An equity loan, which is interest free for five years, will cover the remaining 20% share.

So, a four-bedroom Hebden style home at Parklands priced at £249,995 could be snapped up for an initial outlay of £199,995 with Help to Buy.

“Help to Buy is a fantastic way to either buy your first home or move up to somewhere larger as it not only reduces the size of the deposit required, but it also means that the mortgage repayments are likely to be more manageable than if you purchase the same property at full market value. Another major benefit is that the 20% equity loan is interest free for five years can be repaid at any time or when you’re ready to move on and resell,” Marie adds.

Located on Audenshaw Road, Parklands is just a short journey away from Manchester city centre via road or rail thanks to easy access to the motorway network and a Metrolink stop in nearby Droylsden. Another stop is due to open locally in Audenshaw later this year.

There’s a primary school within walking distance, making it the perfect choice for families with young children. The beautiful Derbyshire countryside is just a short journey away by car.

For expert advice on how to use Help to Buy to purchase a brand new home at Parklands, visit the sales office and show home this weekend (Oct 12/13).

For details of the latest availability and pricing see elan-homes.co.uk/parklands.