irst-time buyers on the Isle of Wight have an opportunity to take the first step on the property ladder in 2021 following the launch of a new government-backed Help to Buy scheme.
The brand new scheme is exclusive to first-time buyers only and is available on new properties that are built after 1st April 2021. There are also regional price caps on Help to Buy homes, which for the South East region is £437,600.
Barratt and David Wilson Homes are ready to assist prospective buyers at their developments across the region and are encouraging those interested in securing a new home to book an appointment with a Sales Adviser.
With Help to Buy, buyers are able to purchase a new home with just a 5% deposit and a 75% mortgage. The remaining 20% is funded by an equity loan, interest-free for the first 5 years and repayable on the sale of the home.
Tammy Bishop, Sales Director at Barratt and David Wilson Homes Southampton Division, said:
“The launch of the new Help to Buy scheme has arrived at an opportune time for first time buyers looking to begin their journey as a homeowner and fulfil those new year goals.
“The government-backed scheme is a fantastic stepping stone for anyone looking to get on the property ladder with just a 5% deposit, providing an opportunity for young couples to secure a first home together, or allowing renters to find a home of their own.
“We have a selection of properties with Help to Buy available at our developments across the region and we’re looking forward to assisting property seekers with their move.”
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Barratt Homes have properties with Help to Buy available at St George’s Gate in Shide. For more information about Help to Buy, visit www.barratthomes.co.uk/offers/help-to-buy-2021/.
What and you don’t have to work for the NHS??
“Help to buy” or “help to inflate house prices for the benefit of Bozo’s mates in the building trade”?
There are also regional price caps on Help to Buy homes, which for the South East region is £437,600.
There are dozens of first time buyer properties available on the island for as little as £80,000. If many first time buyers didn’t insist on having a nice new 3 bed house to start out then maybe schemes like this wouldn’t be needed.
Help to buy up to £437,600 !
Who on low wages on the Island could afford a property that expensive?
These properties are far to high in the first place for first time buyers on the Island- not only are they overpriced but you have to pay back a loan and a mortgage and a few other things that the builders add on before you even start with water, rates,etc. Buying your own property should work out cheaper than renting but in this case it isn’t. If you want to get on the property ladder start small and work your way up rather than a brand new home – which you pay out more for in the long run.
Far too expensive for young island families, build good quality council homes with low rents, with very strict conditions that prevent anti social lowlife from damaging what should be a safe and peaceful community..
I also think good quality mobile homes should be created for young families that are on the waiting list until a home has been built…
With Help to Buy, buyers are able to purchase a new home with just a 5% deposit and a 75% mortgage. The remaining 20% is funded by an equity loan, interest-free for the first 5 years and repayable on the sale of the home.
……nothing like trying to load someone up with as much debt as possible, get as much out of them as possible and when they give up and hand the house back, pass it on to someone else, rinse and repeat.
a racket