News
With the Government’s current Help to Buy scheme set to be replaced by a new version from April 2021, many buyers are wondering what the changes will mean for them.
From April 2021, only first time buyers will be eligible for Help to Buy, meaning that second steppers are encouraged to take advantage of the scheme while they still can. In addition to this, there will be regional property price caps in place, which will be significantly lower than the current £600,000 threshold.
Chris Hamilton, our Managing Director comments: “The impact of the changes to the Help to Buy scheme will be felt by a large proportion of buyers, particularly in the south east where property prices are higher than other parts of the country. We are in a fortunate position to have a good number of new homes across our sites that will meet the current deadlines under the existing Help to Buy scheme, and would encourage potential buyers to explore the options available to them.
“With the property market reopening, and particularly with low interest rates and favourable loan-to-value ratios, now is a great time for buyers to make their next move.”
In order to qualify for the current Help to Buy scheme, the following deadlines must be met:
- 31st December 2020 for practical completion
- 31st March 2021 for legal completion
The Government’s Help to Buy scheme is designed to help buyers who, under this scheme, would only need a 5% cash deposit to buy a new home, whilst the government provide an equity loan up to 20% (40% in London) of the cost of your new home. The loan is also interest-free for the first five years.
From April 2021, the Government is introducing a restricted version of the scheme, whereby only first time buyers will be eligible. The new scheme will also see the introduction of regional property price caps, which will vary from region to region.
Martin Grant Homes has a number of new homes available to purchase under the current Help to Buy scheme…
Kingsfield Court, Aylesbury: A collection of 16 contemporary two-bedroom apartments, with easy access to Aylesbury Vale Train Station. All apartments benefit from integrated appliances in fitted kitchens, modern finishes and private parking. Prices start from £227,950. Buyers can arrange video calls and virtual viewings via selling agent Taylors, who will also be available to offer free mortgage and Help to Buy advice – to find out more, call 01296 321053.
Buckton Fields, Northampton: Three, four and five-bedroom homes available, with a range of amenities close by. Once complete, the development will feature its own primary school, convenient shops and services, open parkland and play areas. Ideal for commuters, Northampton Railway Station is just a few miles from Buckton Fields and offers direct services to London Euston in 46 minutes, while Milton Keynes and Coventry are just 13 and 29 minutes respectively by rail. Prices start from £295,000 for a three-bedroom detached home. To find out more, call 01604 438231.
The Ridings, Upper Caldecote: Two, three and four-bedroom homes located on generous plots, surrounded by meadows and a few minutes’ walk from the village. Nearby Biggleswade is just two miles from The Ridings, with direct services to London Kings Cross in 36 minutes. Prices start from £350,000 for a three-bedroom semi-detached home. To find out more, call 01767 314694.
Priors Lea, Oxfordshire: A collection of 40 two, three and four-bedroom homes in its own private enclave. Once complete, the development will include green open spaces and a play area. Priors Lea is surrounded by countryside, with miles of public footpaths and tracks, including The Ridgeway – England’s oldest path. Didcot Parkway Rail Station is a 15-minute drive away and offers direct services to London Padding in 43 minutes. Prices start from £299,950 for a two-bedroom semi detached home. To find out more, call 01235 604563.
To find out more about Help to Buy, please visit our website: martingranthomes.co.uk and get in touch with our sales advisors at the development of your choice, who will be able to assist you.
