Help to buy brings river side step closer for first time buyers
House hunters in Bath, and in particular first time buyers, are being reminded about the Government’s Help to Buy scheme introduced to help them buy a new home.
With the UK referendum stealing the majority of the headlines in recent months, many might have been distracted away from the various incentives and schemes that have been put in place to help them make that all important move.
However the marketing team at Crest Nicholson’s Bath Riverside development is now keen to remind first time buyers that they can still take advantage of the initiative at the development which has a number of properties for sale under the Help to Buy scheme.
Christine Hamilton, Crest Nicholson sales advisor said: “The Government continues to be committed to the Help to Buy scheme, so it’s definitely worth considering while it’s still available.
“For first time buyers, getting onto the property ladder can sometimes feel like a giant leap. But Help to Buy can make the move much more affordable with the Government-backed initiative while allowing them to purchase a new home with just a five per cent deposit.
“An added factor to consider is with interest rates at an all-time low and plenty of mortgage availability now more than ever is the right time to buy.”
For those considering using Help to Buy the scheme works where the Government will lend up to 20 per cent of the value of the property through an equity loan.
This means the purchaser will have to pay just 80 per cent the cost of the property – made up of a 75 per cent mortgage and five per cent deposit.
Christine added: “When launched there was a lot of coverage on Help to Buy and we’re keen to make sure house hunters understand and are aware that it is still very much available.
“Since it was launched we’ve sold quite a number of properties under the scheme, the majority of which to first time buyers who were renting in the city or surrounding area. We currently have some superb apartments in the Alexandra House phase which are the perfect springboard for those looking to buy their first home.”
An example of the help to buy scheme in action comes in the form of Charles Duance who, having lived in rented accommodation for 14 years, decided it was time to buy his first home.
Key to his decision was the fact that he wanted a hassle free move and a place where he could literally just move into without having to worry about any expensive repairs, upgrades or decorating bills.
As a result, Charles bought a brand new, two-bedroom apartment at Bath Riverside where he is now lapping up the lifestyle of the city’s premier property development.
Christine added: “Charles is a great example of how the Help-to-Buy scheme is enabling first-time buyers get their foot on the property ladder and we are delighted he is enjoying the fantastic location and specification of his new apartment.”
For further information please call 01225 463 517 or visit www.crestnicholson.com/bathriverside
The marketing suite on Victoria Bridge Road is open daily from 10 am to 5pm.