The Benefits of The Help To Buy Scheme

Planning on buying your first property? We know this can be a daunting task, and it can be a big step emotionally and financially. Here at Clarendon Homes, we are asked about the Help To Buy Scheme frequently and about its benefits – so here we have listed all the benefits of the Help To Buy Scheme in one place. 

But first, what is Help To Buy? In short, it is a government backed scheme which aids buyers, and especially first time buyers by offering them a 20% loan, meaning the buyers only need to put 5% towards the deposit. 

You get help when buying your first home

The Help To Buy Scheme is a fantastic way for first time buyers to get onto the property ladder. The scheme also boosts the property market, meaning that more people are being able to afford new builds…a brand new shiny property for your first home, what could be better? 

A quicker chance to save, save, save! 

With the Help To Buy Scheme, first time buyers won’t need to save as long as only a 5% deposit is required.

Borrowing interest free

One of the key points of the scheme that make it such a popular choice when purchasing your first home, is that for the first 5 years there is no interest on your loan. This allows for you to settle in and get used to more outgoings, which is definitely a bonus. 

The chance to buy a new build home

Immaculate finishes becoming a blank canvas, cheap to run and of course no chain are just three things that make new builds the ideal property to purchase, and to have one as your first home is even better! Many people always dream of buying a shiny new build, but are convinced they will have to be on the property ladder for a few years…but this is now not the case and that is all thanks to Help To Buy! 

So there you have it, four fantastic reasons why you should definitely consider benefitting from The Help To Buy Scheme when purchasing your first home. 

Click here to check out our developments Mulberry Place and Churchfields where Help to Buy is available.