A government initiative is helping thousands of families in Merseyside to get on to the housing ladder. New figures released by the Homes and Communities Agency (HCA) reveal that a total of 4,404 homebuyers in the area used the Help to Buy scheme since it was launched four years ago.
Within the county, the districts which made the best use of the scheme were Liverpool City (1,597) and St Helens (968).
Local housebuilder Barratt Manchester is encouraging homebuyers throughout Merseyside to take part in the popular scheme which has already helped tens of thousands of people across the country to buy a brand new home.
The scheme enables anyone, both first time buyers and existing owners, to put down just five per cent as a deposit for their new home and to take advantage of a government equity loan providing access to more affordable mortgage rates.
Michaela Lancaster, Sales Director at Barratt Manchester, said: “Merseyside has produced some strong results for the Help to Buy scheme and it is great to see districts, such as Liverpool City and St Helens, where we build homes, achieving such high figures for the scheme in the county.
“Help to Buy has proved so helpful to so many homebuyers and we would encourage anyone looking to buy a home with lower upfront costs to get in touch.”
Help to Buy allows any homebuyer to secure a brand new home under the value of £600,000 with just a five per cent deposit. The government lends the buyer 20 per cent of the value of the property in the form of an interest free equity loan for five years, meaning that buyers then gain access to some of the great mortgage rates currently available with just a 75 per cent mortgage.
Available to all homebuyers, not just first timers, the scheme helps anyone looking for a boost up the property ladder, as long as they are not purchasing a second home!
On the Barratt Manchester website there is more information on Help to Buy - www.barratthomes.co.uk/helptobuy together with a handy calculator which shows how much people can borrow using the scheme.
Barratt Homes is currently building homes in Merseyside at the following developments: Nomvula Park, Rosaline Gardens and Imagine Place.
For more information about the developments in Merseyside, please visit www.barratthomes.co.uk or call 0333 355 8474.