With inflated house prices and a tightening on mortgage lending, the prospect of buying a new home has felt unachievable for many. But, with the introduction of Help to Buy house-hunters are once again realising their dream of owning their own property and even finding they can afford something bigger than they’d initially thought.
Help to Buy enables purchasers to own their own home with just five per cent deposit and 75 per cent mortgage. The remaining cost of the property is funded by a 20 per cent equity loan from the Government that is interest free for the first five years.
Crest Nicholson’s support of the scheme at Silk Meadows and Firepool Lock in Taunton is helping buyers to not only afford their dream home for right now, but also reduce the number of steps homeowners need to take before buying their ‘forever family home’.
Crest Nicholson homeowner, Russell Norton, said of the scheme: “I’ve found that owning my home is far more affordable than I thought, and in fact my mortgage repayments aren’t dissimilar to what I would be paying in rent. I could comfortably afford my apartment and still have enough money left over for the furniture I needed.”
Matthew Magovern, who also recently purchased a new home with Help to Buy, added: “We couldn’t have bought at this stage without Help to Buy and the fact that we could afford something as great as our new home Crest Nicholson home is just fantastic. It’s everything we wanted from a house.”
Silk Meadows’ location on the edge of the village of Staplegrove, a short drive from the breath-taking Quantock Hills and just one and a half miles from Somerset’s shopping capital, Taunton, means that the development offers an enviable mix of both town and country living.
Help to Buy prices currently start from £143,200 for a three bedroom Huntingdon house and £168,000 for a three storey, four bedroom Warwick house.
For more information, please call into the on-site Sales and Marketing suite (open daily, 10am-5pm) 0845 894 3247, email firstname.lastname@example.org or visit www.crestnicholson.com/silkmeadows