The Government’s ‘Help to Buy’ scheme which was launched on 1st April is a fantastic opportunity for those looking to purchase a brand new home with only a 5% deposit. Unlike previous schemes, it is available to all purchasers, not just first time buyers, and can be used to purchase new homes up to the value of £600,000. And, even better, there is no restriction on the maximum amount someone can earn to be eligible.

Help to Buy provides purchasers with up to 20% of the value of the property they want to buy in the form of an equity loan. Buyers need only save for a 5% deposit with the remaining 75% of the balance paid for with a conventional mortgage. The loan is for up to 25 years and for the first five is interest free!

“This is an amazing opportunity for anyone who can afford the mortgage payments but who would struggle to raise the substantial deposit required by most lenders to access their best deals,” says Connells Regional Director - New Homes Tom Bateson. “It may also mean that purchasers will be able to buy a larger new home than they thought they could afford! “We are currently acting as selling agents on a wide variety of developments across the region where Help to Buy is offered and are therefore urging anyone who is interested in purchasing a new home to contact their local Connells branch without delay to find out more about the scheme and where it is available.”