Home movers at all stages of the property ladder are taking advantage of the low five per cent deposit required through the Government’s popular Help to Buy scheme.
Developer Taylor Wimpey has reported a number of buyers in the Ribble Valley area have been able to upsize with ease, and is keen to highlight the government-backed initiative is for more than just the first-time buyer market.
Michael Worden, who recently moved to the homebuilder’s Calderstone’s Vale development in Whalley, with wife Rebecca and 19-month-old son Samuel, made use of the initiative to secure his third home.
He commented: “To be honest, we were sceptical about using a scheme, but the team at Taylor Wimpey demonstrated how we could not only afford a bigger design, but the interest rates were reduced and the mortgage repayments were lower.”
Through Help to Buy, eligible purchasers only require a five per cent deposit to secure a new home worth up to the value of £600,000, while also benefitting from a 20 per cent equity loan.
Chloe Dunn, head of sales for Taylor Wimpey Manchester, explained: “Help to Buy is obviously fantastic for those who are new to the housing ladder, as it reduces your time saving for a deposit.
“But so many customers, just like the Wordens, have actually been second and third time buyers who wanted to upsize without breaking the bank – and we’re thrilled it’s proving so affective.”
Taylor Wimpey’s Calderstone’s Vale development features a selection of three to five bedroom designs, with prices currently starting from £314,995, or just £251,996 when purchased with Help to Buy.
Michael added: “The Help to Buy scheme has not only helped us move from a two-bed to a three-bed, but it’s bought us a fantastic location, with great children’s facilities and a close-knit community feel.
“We’d certainly recommend the scheme to others!”
For further information about the homes available at Calderstones Vale or the Help to Buy initiative, please call 01254 457 941. Alternatively, log onto www.taylorwimpey.co.uk.