The Government's Help to Buy scheme is open to both first-time buyers and home-owners purchasing new built homes with a purchase price of up to £600,000. Buyers will need to contribute at least five per cent of the property price as a deposit, and then The Government will provide a loan for up to 20 per cent of the price which is interest free for the first 5 years. A mortgage of up to 75% covers the rest on the bases that you have a 25% deposit.*
Martin Blake, Head of Land & New Homes at Andrews, says of the scheme: "Many buyers look at this scheme and think it's too good to be true, but thousands of buyers are taking advantage so we would anyone considering a move to contact us before the funding runs out".
* Terms and conditions apply.