THOUSANDS USE HELP TO BUY IN DERBYSHIRE TO BUY NEW HOMES

A government initiative has helped thousands of families in Derbyshire to get on to the housing ladder. New figures released by the Homes and Communities Agency (HCA) reveal that a total of 5,694 homebuyers in the county used the Help to Buy scheme since it launched seven years ago.

Within the county the districts which made the best use of the scheme were South Derbyshire (1,824), Derby (1,097) and Bolsover (694). Of the total amount of homebuyers that benefited from the scheme, 4,304 were first time buyers.

Local housebuilder Barratt and David Wilson Homes have a number of popular developments in the county and are encouraging first time buyers and existing homeowners that are interested in the scheme to find out more before it changes. The popular scheme has already helped tens of thousands of people across the country to buy a brand new home.

The scheme enables buyers 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.

Rachael Harrison, Sales Director at David Wilson Homes East Midlands, said: “It’s great to see that so many buyers in Derbyshire have been able to purchase a new home using the Help to Buy scheme.

“We would encourage anyone looking to buy a home with Help to Buy to book an appointment at one of our developments to find out more.”

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.

Currently available to all homebuyers, not just first time buyers, the scheme helps anyone looking to get on or move up the property ladder, however, Help to Buy will be changing in 2021 with more restrictions in place.

On the Barratt and David Wilson Homes websites there is more information on Help to Buy – https://www.barratthomes.co.uk/offers/help-to-buy/ or https://www.dwh.co.uk/offers/help-to-buy/ – together with a handy calculator which shows how much people can borrow using the scheme.

Barratt and David Wilson Homes North Midlands is currently building quality homes in Derbyshire at The Paddocks in Newton Solney and Barratt Homes at Mickleover.

David Wilson Homes East Midlands also has properties available in Mickleover, in addition to Drakelow Park in Drakelow, Ramblers’ Gate in Ashbourne, Shepherd’s Rest in Burton-on-Trent, Doveridge Park in Doveridge and David Wilson Homes at Mickleover.

Breakdown of total Help to Buy sales within Derbyshire since the scheme launched in April 2013:

For further information, call the Barratt Homes sales team on 033 3355 8472 or the David Wilson Homes sales team on 033 3355 8483. Alternatively, visit the website at www.barratthomes.co.uk or www.dwh.co.uk.