- Wed 08 Jun 2022
In recent research carried out, we have seen that many buyers have swarmed the housing market since it has re-opened after the pandemic and with that comes an array of property buyers with varied requirements. While families and older households have been able to leverage the gains from strong house price growth, younger buyers have not had the same advantage, although buying schemes, such as Help to Buy have helped bridge the gap for this audience. According to Zoopla, within the last 18 months, 1 in 5 new home transactions were supported by the scheme, making new home buyers between the ages of 24-34 rise by 39% benefitting from the scheme.
If you are a first time buyer with a deposit as little as 5% now may be the right time to think about getting on to the property ladder. Help to buy is a government backed scheme offering an equity loan to assist you in the purchase of your new home, with at least a deposit of 5% and the government adding up to an additional 20%, it enables you to buy with effectively a 25% deposit.
However, you need to act fast as the scheme is only available to first time homebuyers and is soon coming to an end with the closing date to new applications being October 31st 2022. With this is mind, Bradleys Estate Agents have a variety of new build developments offering Help to Buy on homes that will be ready in time for you to make the most of the scheme.
The West Country offers the most sublime places to live but with that comes higher house prices. As a first time buyer, buying in the South West, the Help to Buy Scheme offers so many more people the opportunity to take that leap on to the property ladder. At any one time Bradleys Estate Agents have on offer over 130 new homes in all price ranges covering Devon, Cornwall and Somerset, take a look at the impressive developments we have available across the region by clicking here, one of them could be your first dream home!