HAMPSHIRE is far out performing every other local authority in the South East when it comes to numbers of homebuyers using the government-backed Help to Buy scheme. Figures recently released by the HCA reveal that 1,687 homebuyers in Hampshire have been able to benefit from the 5 per cent deposit scheme since its launch two years ago, with Buckinghamshire coming in second place with 1,315 Help to Buy purchasers.
The highest performing area within Hampshire for Help to Buy is the Test Valley, where 321 purchasers have benefitted from the government–backed scheme. The lowest numbers of the scheme in Hampshire can be found in Winchester and Portsmouth where just 47 ‘Help to Buyers’ have been recorded since April 2013.
Local housebuilder Barratt Homes is encouraging homebuyers throughout every part of Hampshire to take part in the popular scheme which has already helped tens of thousands of people across the country buy a brand new home. The scheme enables anyone to put down just five per cent as a deposit for their new home and take advantage of a Government equity loan providing access to more affordable mortgage rates.
Lynnette St Quintin, sales director for Barratt Southern Counties comments: “Hampshire has produced some fantastic results for Help to Buy and these figures really demonstrate that local homebuyers are making the most of this government funding. Help to Buy has clearly been a great success story for homebuyers in the county and particularly in the Test Valley and we are delighted to see the scheme give so many local buyers a boost up the property ladder.”
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 to buy a new home.
Lynnette adds: “Help to Buy has helped well over 73,000 purchasers buy a new home in England over the last two years and the numbers continue to rise. We are encouraging anyone in Hampshire still looking to buy a brand new home with a low deposit and affordable mortgage rates to get in touch.