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GET HELP TO BUY A BETTER HOME
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Being family-owned, we’ve always felt aas passionate about helping people move to their dream home as we have about the quality and attention to detail we build uild into them. So as well as Help to Buyy,, with Dorbcrest you’ll find expert pert advice on all the ways we makee owning your home easierr.. Not to mention a more stylish home.
HOMES ST TART ART FROM ONL LY Y £100,000 WITH HELP TO BUY Full ppurchase pprice from £125,000 ,
CRAMFORD HOUSE
THE MINERS LAMP
QUISTON GRANGE
L I LY F I E L D S
Ormskirk L39 4QY
Pemberton WN5 8HY
Whiston L3 35 7JG
Ashton-in-Makerfield WN4 9DU
Luxury 1 & 2 bedroom apartments Telephone: 01695 580720
3 & 4 bed semi-detached homes Telephone: 01942 216926
2, 3 & 4 bed droom homes Telephone: 0 0151 430 8851
3 bedroom mews homes Telephone: 01942 212212
F O R F U L L DE TA ILS ON A L L OUR DE VE L OPM ENTS V I S I T O UR NE W W E BSIT E AT D ORBCREST H OME S .C O .UK
*Prices and information correct at time of going to press and are subject to change without notice and build stage. Images may ffeature eature items that do not form part of the standard ndard specification and an extra charge may apply. Terms Terms and conditions apply and full details are available upon request. Help to Buy based on a 75% mortgage with a minimum 5% deposit contribution. It is not available in conjunction with any other offer or promotion. Full details of all our offers rs can be obtained from your Sales Advisorr.. Dorbcrest reserve the right to change or remove any incentive without notice.
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Award-winning properties from Bloor Homes with excellent specifications, inside and out. With stylish kitchens, spacious living areas and beautiful finishes throughout, Bloor Homes build to excellent specifications. So you feel at home the minute you step inside.
Euxton Fold
Madison Chase
Parc Jasmin
Sandstone Park
Wigan Road, Chorley PR7 7GW T. 01772 454 149
New Mill Street, Eccleston PR7 5UP T. 01257 451 840
Chester Road, Broughton CH4 0DE T. 01244 538 951
Hallows Drive, Kelsall CW6 0QE T. 01829 751 795
Book a viewing today. Call or visit bloorhomes.com We’re open daily from 10am to 5pm.
Prices and availability correct at time of going to press. Images shown are for illustrative purposes only and do not depict any particular plot.
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time to o move ove closer ser
45 brand new perrfectly designed homes forr bringing families closer
CALL US ON 0151 515 4 4339 FOR AN N APPOINTM MENT
Situated in an established community, Affinity is the perfect place to grow and nurture your family. There’s already a great community at Church Fields, and a good selection of local amenities on your doorstep. What’s more with our brand new homes, you can have your personal touches built in, hassle free and benefit from a 2 years builders guarantee for peace of mind. W ith Help to Buy* available you could find that much needed space for your growing family may be closer than you think with just a 5% deposit required. Enjoy life’s luxuries.
2, 3 & 4 BEDROOM HOMES HELP TO BUY A AV VAILABLE *
Raglan Close, Liverpool, Merseyside, L19 8NG Call 0151 515 4339 or click www.lovellnewhomes.co.uk Marketing Suite and Show Homes open: Thurs - Mon 10am - 5pm
Price correct at time of going to press. *For details re egarding Help to Buy, please contact our Sales Advisor. Digital illustration is indicative onlyy.
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W E LCOM E MORE CHOICE THAN EVER WITH GROWING HELP TO BUY
CONTENTS 7
HELP TO BUY How it Works
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North West Developments
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HELP TO BUY Phase Two
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Case Study: Michael & Sarah
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HELP TO BUY Mortgage Lenders
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Case Study: Fraser & Natashia
Sandy Kelly Head of Help to Buy North West I’m still surprised when I meet someone who hasn’t heard of Help to Buy! It has been regularly in the press and on our TV screens since it was launched almost two years ago and it’s now more popular than ever. By the end of December 2014, a massive 41,533 properties had been bought with the support of the Help to Buy Equity Loan scheme, which was introduced in April 2013. The scheme has undeniably helped first time buyers get on to the first rung of property ladder, with 83% of all homes purchased to date having been snapped up by first time buyers. But the scheme isn’t just for first time buyers and as long as you sell your existing property you are likely to be eligible for Help to Buy. Properties up to a value of £600,000 can be acquired using the scheme and the average purchase price is currently £212,128 - below the national average - and here in the North West the average purchase price is around £180,000. The success of the scheme has led to an increased supply of homes available for sale due to the fact that developers have regained confidence in the market and ramped up their build programmes. Changes to how the equity loan is paid have also meant that many more smaller developers are offering Help to Buy on their developments, and in the North West alone there are now almost 200 developers offering Help to Buy across multiple sites. All of these factors result in a positive impact on the economy, both locally and nationally. Undoubtedly the main appeal of Help to Buy is the fact that you only need a 5% deposit but there are so many more advantages to the scheme. Monthly mortgage repayments are kept low because you are only borrowing 75% of the property value instead of 95% and there is no interest on the equity loan until year six. There are now 12 lenders participating in the scheme and the rates are very favourable. Most recently Virgin Money began offering Help to Buy mortgages and it is anticipated that more lenders will come on board in the near future as the scheme continues to grow. In the last 12 months the Help to Buy Agent network has become more streamlined and the application process is easy to follow and hassle free. As Help to Buy Agent for the North West we process all applications as well as providing a comprehensive website full of information on Help to Buy products and a dedicated phone line to answer any queries about the scheme. And the great news is that the Help to Buy equity loan scheme has been confirmed until 2020!
FOR MORE INFORMATION VISIT WWW;HELPTOBUYNW;ORG;UK OR CONTACT US ON 6766 9:6 6896
Copyright Move Publishing Limited. All rights reserved. No part of this publication may be reproduced copied or transmitted in any form or by any means or stored in any information storage or retrieval system without the publishers written permission. Although every effort is made to ensure the accuracy and reliability of material published, Move Publishing can accept no responsibility for the veracity of the claims made by advertisers.
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23 Case Study: Jonny & Nancy
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Looking for your new home? Get all the advice and guidance you need to help you buy
@HelptoBuyNW
Saturday 28 March 2015 Manchester Central, Petersfield M2 3GX
Help and advice and much more from the region’s leading experts on Getting on the property ladder Specialist mortgage & legal advice
10.00am – 4.00pm Download your FREE ticket at
www.helptobuyshow.com
Low cost home ownership options New homes from across the region
In association with
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H O W I T Works SINCE LAUNCHING IN APRIL THE EQUITY LOAN PHASE OF THE GOVERNMENT-BACKED HELP TO BUY SCHEME HAS BEEN CREDITED WITH HELPING THOUSANDS OF BUYERS ACROSS ENGLAND TO PURCHASE THEIR PERFECT NEW-BUILD HOME WITHOUT HAVING TO SPEND YEARS SAVING FOR A LARGE DEPOSIT OR BORROWING FROM THE ‘BANK OF MUM AND DAD’ BUT HOW DOES IT WORK AND WHO IS ELIGIBLE FOR THE INITIATIVE? HERE’S THE LOWDOWN ON HOW HELP TO BUY CAN HELP YOU
What is the Help to Buy Equity Loan scheme? Whether you’re a first time buyer or you’re looking to move up the property ladder with a brand new home, Help to Buy can accelerate the process by covering some of the initial cost with a loan. Covering up to 20% of the house price, the loan will be interest free for the first five years. In turn, would-be buyers will need to stump up a cash deposit of just 5% along with a 75% mortgage.
Payments and progressing up the property ladder Your equity loan will be free of fees for the first five years, but if you have not fully repaid it after this time then from year six you will be charged a fee of 1.75% of the market value of your property at the time you purchased it. This fee will then rise each year by the increase in the Retail Price Index plus 1%. Once you’ve purchased a home through Help to Buy you can repay part of your equity loan – known as ‘staircasing’ – or the full loan at any time. The property can also be sold at any time, however, if you haven’t fully repaid your equity loan you will need to repay a percentage of the market value equal to the percentage contribution of assistance received.
RULES AND RESTRICTIONS To qualify for the Help to Buy Equity Loan initiative, the new-build home you are looking to buy must have a purchase price of up to £600,000. With the scheme aiming to help those who need it, as opposed to making it easier for existing home owners to develop a portfolio of property, the property purchased through Help to Buy must be your only home at the time of buying it. You also won’t be able to enter a part exchange deal on your old home when making the purchase, nor will you be able to sub-let the new home.
FOR FURTHER DETAILS ON PURCHASING A HOME THROUGH THE HELP TO BUY EQUITY LOAN SCHEME VISIT
How to apply for Help to Buy
New-build developments across the North West have homes on offer through the Help to Buy Equity Loans initiative. Carry out your research to find your perfect Help to Buy home by contacting developers and visiting show homes. Once you’ve identified a property you’d like to purchase through the scheme you must complete a Help to Buy property information form, which will either be available from your chosen developer or Help to Buy North West – the government’s chosen agent for the region. Part of the not for profit Plus Dane Group, Help to Buy North West has been appointed to process applications in the area, as well as providing a one stop shop to show potential buyers where Help to Buy properties are available. You must also reserve your chosen newly built property, which often requires a fee to be paid, and send your completed property information form and housebuilder’s signed reservation form to Help to Buy North West so that your affordability can be assessed. If successful, you’ll then receive an ‘authority to proceed’ from the local agent, allowing you to progress with securing a mortgage and appointing a solicitor to assist with contracts. Always seek financial advice before proceeding with a Help to Buy purchase.
www.helptobuynw.org.uk
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N O R T H W E S T Developments HELP TO BUY HAS SPARKED A HOST OF NEW HOUSING DEVELOPMENTS AROUND THE NORTH WEST SINCE ITS INTRODUCTION WITH HOMES BEING BUILT IN MERSEYSIDE GREATER MANCHESTER LANCASHIRE AND CHESHIRE FROM AFFORDABLE SMALL FAMILY HOMES TO LARGER RURAL PROPERTIES WE’VE PICKED THREE DEVELOPMENTS FROM ACROSS THE REGION WHICH SHOW THE VARIED SELECTION OF HOUSES ON OFFER THROUGH THE GOVERNMENT-BACKED INITIATIVE
Madison Chase, Eccleston Bloor Homes While less than 8% of all homes sold under Help to Buy in 2014 were valued at £350,000 plus, the Help to Buy scheme is offered on properties up to the value of £600,000. With a maximum equity loan of £120,000 available it means luxury homes can also fall into the Help to Buy category. The North West has plenty of green space, from rural Cheshire to picturesque Lancashire villages. Eccleston, a former agricultural and weaving settlement with good transport links to Manchester, is one such location for a new housing development placed at the more luxurious end of the market. Madison Chase on New Mill Street, a development by Bloor, offers homes priced from £249,995 and £369,995 – before the 20% equity afforded by Help to Buy is taken into account. There are 52 homes in the development comprising three, four and fivebedroom properties within a rural setting. The quiet village does have amenities such as pubs, shops and restaurants, but retains the rural lifestyle that will attract people to the development. The homes themselves feature open-plan kitchen and dining rooms and spacious double bedrooms. With the family market in mind, it shows the rural stretch of land between the North West’s urban areas is ripe for Help to Buy living.
For more information contact Bloor Homes on 01257 451840.
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Affinity at Church Fields, Garston Lovell Homes Help to Buy was introduced to help buyers get on the property ladder and move in to their first home. Over 70,000 buyers have done just this since the scheme was introduced and the majority of those have chosen affordable housing options. The Affinity at Church Fields development in Garston, Liverpool is a prime example of an affordable housing development that has thrived under Help to Buy. Homes start from just £125,000, which means there is an initial outlay of just £100,000 with Help to Buy and even the largest home type at the development is a little over £150,000. The homes comprise three and four-bedroom designs and, while they are at the affordable end of the market, offer modern fixtures and fittings and spacious kitchen/diner layouts. The development is also a mile from the River Mersey and enjoys transport links to Liverpool city centre and Liverpool John Lennon Airport. The phased development of homes in Affinity at Church Fields, by Lovell Homes, is typical of the high quality, lowcost homes available under the Help to Buy scheme in the North West. For more information contact Lovell Homes on 0151 515 4339.
Bridgewater Village, Eccles Bellway Homes Help to Buy homes under £200,000 are favourites for family buyers looking for a more spacious home or moving from a rented property to get their foot on the housing ladder. With recovering economies in cities such as Liverpool, Manchester, Preston and Chester, housing developments in commuter belts are proving particularly popular with Help to Buy customers. Eccles, an area located outside Manchester and Salford, is home to a number of new housing developments including Bridgewater Village by Bellway Homes. Featuring three and four-bedroom homes in mews and semi-detached style, the Bridgewater Village development is a popular choice for families with school-age children, as a number of local schools are located nearby. Spacious gardens, fitted kitchens and modern bathrooms all tick the boxes for new buyers, but the real benefit of purchasing a home through Help to Buy in the commuter belt is the extra space afforded for less cost. The homes at Bridgewater Village are priced from £182,995 to £192,995. For more information contact Bellway Homes on 0161 707 3237.
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In just 10 years, The Way has transformed part of East Manchester into a vibrant, modern community. Now, we’re celebrating this milestone at Axis @ The Way. An exciting new phase of 2, 3 & 4 bedroom homes, with the same stylish, high quality and great value properties this area is now renowned for.
3 bedroom homes available from £163,995 Help to Buy Available
Don’t miss out, call today 0161 825 8981 Rylance Street off Ashton Old Road, Beswick, Manchester M11 3NP Call 0161 885 5447 or visit www.lovellnewhomes.co.uk Marketing Suite and Show Homes open daily 10am - 5pm * HELP TO BUY based on a 75% mortgage with a minimum 5% deposit contribution. It is not available in conjunction with any other offer or promotion. Lovell cannot give you any financial advice but can refer you to an Independent Financial Advisor. The maximum Equity Loan will be 20% of the purchase price. Prices and information believed to be correct at time of going to press and are subject to change without notice. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. All offers are subject to our standard terms and conditions which are available on request. Selected plots only.
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P H A S E Two HELP TO BUY MORTGAGE GUARANTEE The second stage of Help to Buy opens up the scheme to homes that are not new builds. While new builds are included, second hand homes can also be purchased under the second phase, which was introduced in January 2014 and will run until 2016. For the buyer, the scheme is similar to the first stage in that it allows a 5% deposit to be paid on a new home. However, instead of a 20% loan from the government and a 75% mortgage, the buyer instead chooses a 95% mortgage package with a participating lender. Normally, banks would be reluctant to offer 95% mortgages because of the high risk involved. However, the second stage of Help to Buy taps in to a £12 billion government pot to ensure that risk is reduced and lenders are less reluctant to offer the package. The government has named the scheme Help to Buy Mortgage Guarantee because it has promised to provide a guarantee for the mortgage lender of up to 15% of the value of
the property. This means mortgage lenders will be encouraged to offer 95% mortgages because it is less risky with the guarantee in place. To prevent lenders offering mortgages to those who may not be able to afford it, they will also take on 5% of the home’s value as risk under the scheme. The underwriting takes place between the government and the bank, and while buyers will have to sign a declaration the mortgage acts in a similar way to a standard 95% mortgage. Help to Buy Mortgage Guarantee is available on homes up to the value of £600,000 but it is reserved for buyers purchasing their only property, meaning buy-to-let landlords and those looking for a second home cannot use the scheme. The Help to Buy Mortgage Guarantee cannot be used on shared ownership either, and is reserved for people who will be living in the home themselves after the deal is complete.
PHASE 3 EXCLUSIVE TO NEW BUILDS Funding: - 5% deposit - 20% government loan - 75% mortgage
PHASE 4 INCLUDES SECONDHAND HOMES Funding: - 5% deposit - 95% mortgage* *Supported by £12bn government pot
Scholar’s Gate | Ings Lane | Rochdale | OL12 7AL
Awarded 5 stars for customer satisfaction
Scholar’s Gate is
selling fast
Help to Buy Based on the fabulous 3 bedroom semi-detached Rufford at £154,995 • You pay a 5% deposit of £7,750 • Own 100% of your home • 20% equity loan is provided by the Government of £30,999 • You only need to secure a 75% mortgage of £116,246
Don’t miss out on our fantastic range of 3 & 4 bedroom homes
Available to all new home buyers, not just first-time buyers. Help to Buy is available at all Bellway developments across Manchester and Cheshire.*
ALSO AVAILABLE
A select development of 3 bedroom semi and 3 & 4 bedroom detached new homes in the market town of Rochdale, with excellent links to Manchester. Prices from £154,995 to £209,995.
When it comes to a great deal talk to us!
Call: 0777 318 8796 Click: www.bellway.co.uk Visit: Monday, Thursday and Friday 10.00am-5.00pm, Saturday and Sunday 11.00am - 5.00pm. Closed Tuesday and Wednesday.
*Prices correct at time of going to press. Pictures for illustration purposes only. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Available on new build homes up to £600,000 subject to the Government ‘Help to Buy’ terms and conditions and only available to customers where a primary mortgage is secured. Not available on second, additional homes, buy-to-let or let-to-buy properties. HomeBuy agent eligibility check required. The equity loan is interest free for the first five years and needs to be a minimum of 10% of the purchase price up to a maximum of 20%. After five years, an annual fee of 1.75% of the outstanding equity loan is charged. This is increased annually by RPI plus 1%. Subject to status, terms and conditions apply. Scheme ends March 2020. Bellway reserve the right to refuse a part exchange, terms & conditions can be found at www.bellway.co.uk.
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C A S E Study HELP TO BUY IS PLAIN SAILING FOR MERCHANT NAVY COUPLE THE COST OF LIVING IN RENTED Michael ACCOMMODATION MADE THE + Sarah PROSPECT OF OWNING A HOME SEEM LIKE AN UNACHIEVABLE DREAM FOR ONE MERSEYSIDE COUPLE UNTIL THEY DISCOVERED HELP TO BUY
Michael O’Keeffe, a 26-year-old navigation officer within the Merchant Navy, had been living in Newcastle with his wife Sarah for two years but, after getting married in April 2012, the couple decided they wanted to settle down and buy a house. “We had lived together in Newcastle for two years but, because of my job, it was hard to make friends, so after we got married we decided to move back home to be closer to our family and friends,� says Michael. “We also wanted to start a family and buy our own house, but because we had been renting in Newcastle we hadn’t been able to save much, and we knew there was no way we would be able to get a mortgage.� Hearing about Help to Buy gave Michael and Sarah hope, as they realised they would be able to afford the 5% deposit required through the equity loan scheme. The initiative then provides buyers with access to a government equity loan of up to 20%, which is interest free for five years with nothing to pay during that time. At first it wasn’t meant to be though, as Michael explains: “In the space of two weeks we looked at 109 houses! We found one we really loved and were ready to buy it when we found out that you couldn’t
use the Help to Buy Equity Loan to buy an older house.� The home buying process finally started falling into place when Michael and Sarah came across an ideal property at Gleeson’s Knowsley Lane development in Liverpool. “We fell in love with the show home and knew that it would be a great family home,� says Michael. “And the fact that it’s a new-build worked out well as because I’m away a lot, I don’t really want a house that needs a lot doing to it.� With a few more stresses along the way, using Help to Buy became one of the only aspects of purchasing the home that was plain sailing for the Merchant Navy officer and his wife. “It was really easy,� adds Michael. “The process was really straight-forward, and I would highly recommend it to anyone thinking of using the scheme. We wouldn’t have been able to buy our home without it.� The couple finally moved into their house and are enjoying the freedom of home ownership. “It’s nice to come home to your own home. We wanted a place to start a family and we can do that now.�
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THE PROCESS WAS REALLY STRAIGHTFORWARD AND I WOULD HIGHLY RECOMMEND IT TO ANYONE THINKING OF USING THE SCHEME WE WOULDN’T HAVE BEEN ABLE TO BUY OUR HOME WITHOUT IT
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Dreams
HAPPEN with Help to Buy
Help to Buy isn’t just for first time buyers. It’s for everyone! Thanks to Help to Buy* you can buy the Jones home of your dreams at any of our stunning developments in the North West.
You’ll be amazed what you can afford with Help to Buy • You only need a 5% deposit
Stunning new homes in locations to match: Middlewich • Chester • Wilmslow • Moston • Bolton Tytherington • Newton le Willows • Cheadle Hulme Nantwich • Warrington • Tilston • St Helens
• Qualify for up to a 20% interest-free government loan† • Enjoy better rates on a 75% mortgage
01625 839769 jones-homes.co.uk
*Help to Buy purchasers are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Eligible applicants will be offered an equity loan of up to 20% of the market price, interest free for the first five years. †At the start of year six a fee of 1.75% is payable on the equity loan, which rises annually by RPI infl ation plus 1%. Terms and conditions apply and full details will be provided on request. This offer is subject to status and not offered with any other promotion. Only available on selected properties in England. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Details correct at time of going to press. Images for illustrative purposes only. Internal photography may show upgraded specification. Ask Sales Advisor for details.
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M O R T GAG E Providers LOWDOWN ON LENDERS & RATES The second stage of Help to Buy was originally planned for January 2014, but the success of the first stage meant it was brought forward to late 2013. While 95% mortgages were previously seen as an incredibly risky proposition for lenders but the fact the government is underwriting 15% of the risk means UK banks were quick to come forward with packages for buyers. RBS and Lloyds, which own Natwest and Halifax respectively, were the first to sign up. They were followed by banks such as Barclays, HSBC, Aldermore, Santander and Virgin Money in offering mortgages under Help to Buy. Other institutions offering Help to Buy second stage mortgages include Al Rayan Bank, formerly known as Islamic Bank of Britain, Ulster Bank and the Post Office. Mortgage rates are typically offered at around 4% APR for a fixed two-year period, with the lender’s variable rate taking over
after the first 18 months. However, five-year fixed rates are offered at slightly higher (usually between 0.3-0.5%) rates. Each individual bank’s rate will vary around that 4% mark for the fixed rate period but most will offer an indication of cost over the entire mortgage term, usually given as a percentage. This can vary from between around 4% to 5%, so it is important to find out before committing to a package. When you choose a Help to Buy Mortgage Guarantee scheme, you will still have to go through the same checks you would under any other mortgage application and as a result you will need to prove that you can afford the repayments. If you are still confused about the types of mortgage on offer, the rates you will pay and the lenders offering mortgages as part of the Help to Buy scheme, there are professional mortgage advisors, such as RSC New Homes, who can guide you through the possibilities.
EARLY ADOPTERS RBS (Natwest) Lloyds (Halifax) NOW INCLUDING Barclays HSBC Aldermore Santander Virgin Money Al Rayan Bank Ulster Bank Post Office TYPICAL OFFER 4% APR fixed two-year, moving to lender’s variable rate a=er 18 months 5-year fixed rates available at higher rates (usually 0.3-0.5% higher)
Tailored Mortgage Advice for a Complex World It’s never too early to think about your mortgage, and with so many choices and options for mortgages, it’s important to know exactly what would suit you best. RSC specialise in New Build mortgages and work closely with many new home builders to ensure your mortgage is progressed as smoothly as possible. Our Financial advisers are available to help you 7 days a week.
Searching the market place
Providing support all related services
RSC are not tied into any lender which gives us the freedom to search for the best deals for you from a comprehensive lender panel.
A mortgage is only one part of being a home owner. We can give you the right advice you need to help make those additional financial decisions.
Our Financial advisers are available to help you 7 days a week
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Telephone: 0844 375 5548 Local Number: 0161 486 6278 Facsimile: 0844 375 5549 1st/2nd floor | Landmark House | Station Road Cheadle Hulme | Cheshire SK8 7BS
www.rscnewhomes.com YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENS ON YOUR MORTGAGE RSC is a trading style of RSC New Homes Limited RSC New Homes Ltd is an appointed representative of First Complete Ltd, which is authorised and regulated by the Financial Conduct Authority. We will charge a broker fee of between £0 and £299, payable on completion. The amount we charge is dependent on the amount of research and administration that is required.
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C A S E Study EQUITY LOAN SCHEME MADE COUPLE’S DREAM PROPERTY A REALITY
Fraser + Natashia
For some homebuyers, landing that dream property can take years. Not so for Natashia Ralphs and Fraser Newton, who knew that the three-bedroom semi-detached house at Carlett Glade in Wirral’s Eastham area was for them – and then made the dream a reality by using the Help to Buy Equity Loan. The couple had seen this Bovis Homes development being built from the start as the site is near to Fraser’s mother’s house, but they were worried the new homes would be out of their budget. However, when they saw the prices of the first properties being released and then looked into the government-backed scheme, with its 20% equity loan and 5% deposit requirement, they realised the possibilities. “When we found out about Help to Buy, we thought it would be a fantastic opportunity that we just had to grab with both hands,” says Natashia. “We went down to the show home and fell in love with the house straight away. We loved the layout and it was the perfect size for us.
“
WE WENT DOWN TO THE SHOW HOME AND FELL IN LOVE WITH THE HOUSE STRAIGHT AWAY WE LOVED THE LAYOUT AND IT WAS THE PERFECT SIZE FOR US
” “The location is ideal too as it is right next to a golf course, which is perfect for Fraser, and it’s pretty much central to everywhere, with easy access to Chester and Liverpool. It’s also near to where I work in Deeside.” While the house is exactly what supply chain administrator Natashia, 28, and 29year-old site engineer Fraser wanted, the couple also enjoyed a smooth process as they purchased their new property. “You hear all these stories of how getting your first house is so stressful, but with Bovis Homes it was totally stress-free,” says Natashia. Bovis Homes Group marketing director,
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Kevin Wilkins, says: “Help to Buy Equity is proving to be an effective home buying solution for many in the region – both first time buyers and existing home owners. Added to the low deposit requirement of just 5% is the 20% government equity loan, which gives buyers access to the more competitive rates that a 75% mortgage brings. “Buyers in this area like Natashia and Fraser are doing the maths and deciding that now is a great time to buy a brand new home. I would advise anyone who has been holding back from making a move to take a close look at Help to Buy Equity to see if it’s the right option for them.”
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C A S E Study HELP TO BUY ALLOWS FAMILY TO ACHIEVE SECURE AND AFFORDABLE HOME
Jonny + Nancy
...and Tommy
“
WE HAD BEEN LOOKING TO BUY OUR FIRST HOME SINCE TOMMY WAS BORN LIVING IN A RENTED HOUSE FELT LIKE SUCH A WASTE OF MONEY AND WE ALWAYS HAD THE POSSIBILITY OF THE OWNERS SELLING HANGING OVER US
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With their young son approaching two years old, Help to Buy could not have come at a better time for Nancy Wright and Jonny Richardson. The North West couple were living in rented accommodation and had been desperately trying to buy their own home since the birth of their child, Tommy, in the hope of achieving financial savings and more security. “We had been looking to buy our first home since Tommy was born,” says Nancy. “Living in a rented house felt like such a waste of money and we always had the possibility of the owners selling hanging over us. Having something more permanent gives us the security we need as a young family.” For Jonny and Nancy, a move to their own three-bedroom house would have been the perfect way out of their energyhungry Victorian two-bedroom rental accommodation with no garden, which was drumming up electricity and gas costs of £200 per month. However, when the viewing of a property led them to weigh up their budget and costs with the help of a financial advisor, the couple were left disappointed as they couldn’t find an affordable solution. “We resigned ourselves to the fact we would have to look for an older property, and probably one with only two bedrooms which would mean moving again in a couple of years’ time,” adds Nancy. Thankfully, the introduction of Help to Buy at a Rochdale housing development offered new hope for the young family to achieve the dream home they’d been looking for. “A week later Seddon Homes called to tell us that the government’s Help to Buy scheme was now available at their Bridgefold development and would we like to revisit the figures. We jumped at the chance because we were so disappointed when we couldn’t afford it first time round. With Help to Buy the government loan 20% of the value of the house so the mortgage required was much less, and at more favourable interest rates, which meant the figures worked in our favour and put the home we wanted within reach.” The process of purchasing the home they wanted was easy too, as it took the couple just five weeks to get from the application stage to moving day. Since settling into their Seddon home, Jonny and Nancy have been saving around £100 each month on energy bills, and with a 10-year new-build warranty they’re also benefitting from the peace of mind that there will be no big outlay to worry about over the next few years. “We didn’t think we could afford to do this initially, but once we started looking and spoke to Seddon’s nominated financial advisor, we were thrilled to realise that not only could we afford to buy, but that it would actually save us money too,” says Jonny. “Plus, because we have been able to buy a three-bed now instead of a two-bed, we won’t need to move again in a couple of years’ time when our family grows. “Best of all, we have a lovely garden for Tommy to play in, and an investment for his future.”
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Woodhaven, West Derby, Liverpool
The Croft, 4 beds - £325,000
The Cleveley, 5 beds - £350,000
The Croft and Cleveley plots are now being released Please call 0151 909 3007 to arrange your private viewing Set in a privately gated community, in one of Liverpool’s most desirable addresses, Woodhaven is a beautifully designed, carefully crafted development of 5 luxury houses. This stylish location has been hand picked to offer you an enhanced lifestyle in a brand new Forth Home.
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