Having helps thousands of buyers to secure their first home and avoid a lifetime of renting, the Help to Buy scheme was introduced for new property in 2013. Backed by the Government it provides an interest free loan of up to 20% of a purchase price (40% in London boroughs) meaning that many buyers need only to save a 5% deposit, taking a mortgage, often at preferential rates, for the remainder.
This window of opportunity is now coming to a close with Help to Buy set to end in 2023 – but not before one or two final changes; from April 2021 the scheme will become restricted to First Time Buyers and in much of the South East a regional purchase price cap will be imposed of £437,600 or £600,000 in London.
Official statistics show the over 210,000 new homes have already been bought using Help to Buy so it doesn’t take much to work out the scheme’s attraction for buyers !
With time running out, now is a perfect time to take advantage of the wide selection of new homes still available with Help to Buy. To see how you may still be able to secure access to the scheme before the deadline why not visit www.lanesnewhomes.co.uk/help-to-buy or call 01992 663890 to talk to a dedicated New Homes Advisor for more information.
