Fifth anniversary Help to Buy events hold key to more interest free payments

Five star housebuilder Barratt Homes is hosting an open weekend at its developments in the south west to showcase how homeowners who bought with Help to Buy five years ago can now move up the housing ladder and benefit from the scheme once again.

The three day event will be held on Thursday, Friday and Saturday (February 8/9/10) and independent financial advisors will be on hand at selected locations to advise on a move.

The financial experts will be at Pinn Brook in Exeter, Saxon Fields in Cullompton, Wyndham Park in Yeovil, Lucerne Fields in Ivybridge and Penndrumm Fields in Looe.

Sales director Sara Parker explains: “After five years, payments on the Help to Buy scheme start to incur interest but by moving home, and entering into a new Help to Buy arrangement, purchasers can have another five years interest free.”

Sara said: “We could even arrange the sale of a purchaser’s existing home with our Movemaker scheme and cover their estate agent’s fees, making their new home even more affordable than they might at first think.”

Help to Buy allows any homebuyer to secure a brand-new home under the value of £600,000 with just a five per cent deposit. The government lends the buyer 20 per cent of the value of the property in the form of an interest free equity loan for five years, meaning that buyers then gain access to some of the great mortgage rates currently available with just a 75 per cent mortgage. Available to all homebuyers, not just first timers, the scheme helps anyone looking for a boost up the property ladder.