NEW figures reveal that Wokingham borough is top of the plots when it comes to Help To Buy.
The Government backed initiative anyone, both first time buyers and existing owners, to put down just five per cent as a deposit for a brand new home and to take advantage of a government equity loan providing access to more affordable mortgage rates
New figures released by the Homes and Communities Agency (HCA) reveal that a total of 1,658 homebuyers in Berkshire have used the Help to Buy scheme since it was launched four years ago.
And making the best use of the scheme is Wokingham borough with 543 homes sold with the help of Help To Buy. Neighbouring Reading had just 228, while Slough had 306 sales.
Figures show that more than 80% of those using the scheme have been first time buyers, with 1,408 homes being bought by ‘first timers’ in Berkshire using Help to Buy.
Local housebuilder David Wilson Homes Southern said that is encouraging homebuyers throughout Berkshire to take part in the scheme.
Rob Allen, Sales Director at David Wilson Homes Southern, said: “Berkshire has produced some strong results for the Help to Buy scheme and it is great to see districts such as Wokingham and Reading, where we build homes, achieving such high figures for the scheme in the county.
“Help to Buy has proved so helpful to so many homebuyers and we would encourage anyone looking to buy a home with lower upfront costs to get in touch.”
Help to Buy allows any homebuyer 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 that buyers then gain access to some of the great mortgage rates currently available with a 75% mortgage.
Available to all, not just first time buyers, the scheme helps anyone looking for a boost up the property ladder.
On the David Wilson Homes website there is more information on Help to Buy together with a calculator which shows how much people can borrow using the scheme.
The company currently has two developments in the borough: Montague Park in Wokingham’s London Road and Croft Gardens in Spencers Wood.
For more details, visit www.dwh.co.uk/Offers/Help-to-Buy/
