Help to buy proves popular in York!
Barratt Homes has revealed the Government’s Help to Buy scheme is popular in York, with 78% of homeowners using the scheme to reserve their new property at its Meadow Fields development.
Recent figures demonstrate the scheme is performing exceptionally well in the city, with a total of 384 Help to Buy equity loans being taken out since it launched in April 2013. Across Yorkshire the scheme has been equally successful, being used more than 14,700 times since it began.
The specialist loan, which is exclusively available to new build homes, allows people to buy a new property with just a 5% deposit. The government lends the buyer 20% of the value of the property in the form of an equity loan, interest free for five years. This means buyers can access some of the great deals available for a 75% mortgage, making new homes much more affordable. The scheme is set to continue until 2021.
Paul Hogan, Sales Director at Barratt Homes Yorkshire East said: “It’s brilliant to see so many first time buyers and existing homeowners using the Help to Buy scheme to get on to, or climb, the property ladder in York. We have welcomed lots of new homeowners to Meadow Fields as a result of the scheme, and we hope it will help many more people across Yorkshire to secure their dream home.“
Barratt Homes’ Meadow Fields development offers a stylish collection of three and four bedroom homes. Properties are available to purchase from £245,995 and come with a ten year National House-Building Council (NHBC) warranty.
Located on the fringe of Boroughbridge, Meadow Fields boasts easy access to the nearby town and the A1, making it ideal for professionals and families alike.
For more information about Meadow Fields development, visit www.barratthomes.co.uk/meadowfields or call 01423 325 472. Meadow Fields is open Monday 12:30pm – 5:30pm and Thursday – Sunday 10:00am – 5:30pm.