More than 5,000 homebuyers in Wiltshire have used the government’s Help to Buy scheme since its launch, with the vast majority being first time buyers.
The latest government figures reveal that 5,079 people in the Wiltshire (3220) and Swindon (1859) local authority areas have used the scheme since it was launched in April 2013. The figures reveal first time buyers accounted for 84 per cent of sales.
Help to Buy allows any homebuyer, not just first timers, to secure a brand-new home under the value of £600,000 with a 5% deposit. The government lends the buyer 20% of the value of the property in the form of an interest free equity loan for five years, meaning buyers can secure a 75% mortgage.
Details of the scheme are provided on the Help to Buy South website.
Andrea Pilgrim, sales director for Barratt Homes said the scheme has proved invaluable for first time buyers and those using the equity in their current home as their deposit to move up the housing ladder.
“It’s vital that we keep spreading the word that buyers need just a five per cent deposit to buy a new home so we can help even more buyers this year,” she said.
Barratt Homes is currently working on new developments in Wiltshire, including Sandridge Place in Melksham and Mill Brook and White Horse View in Westbury.