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Changes made to Help to Buy scheme

Picture: WaterSafe

CHANGES to the government’s Help to Buy scheme give new hope to first-time buyers, says a Winnersh-based housebuilder.

According to Persimmon Homes, those stepping on the housing ladder for the first time will be met with fresh opportunities as the government plans to alter the programme.

Introduced in 2013, Help to Buy enabled people to put down a 5% deposit on a newly-built home.

Up to 20% of the full cost of the home was funded by an equity loan, which is interest-free for the first five years. Originally aimed at both first-time buyers and existing homeowners, the loan scheme will only be offered to those new on the housing market from April next year.

Ben Felton, deputy managing director at Persimmon Homes Thames Valley, says the changes will bring home ownership within reach of thousands who might have struggled otherwise.

“Across the UK, Help to Buy has already helped more than 270,000 into home ownership, of which four-in-five areas are first-time buyers,” he said.

“The revised scheme aims to build further on this success.”

To find out more about the updated Help to Buy programme, visit: www.persimmonhomes.com

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