A young couple from Northamptonshire have praised the Help To Buy scheme, which enabled them to take their first step as homeowners.
Phil and Lauren are the latest first time buyers to make use of the initiative which allows people to secure a home with just a five per cent deposit, moving into their three bed house at The Hedgerows in Irthlingborough.
Phil said: “We knew we wanted to buy a new house, having rented new builds before and liking the fact that they are maintenance free and economical, but we thought we would be saving for years to get our deposit together.
“Help To Buy made the buying process achievable for us and I would happily recommend it to other people. We now have our perfect starter home.”
Phil, a 32-year-old Trademark Attorney, and Lauren, 29, a Trainee Clinical Psychologist, chose The Hedgerows for its location, near to Stanwick Lakes and the Nene Way, and within easy reach of the motorway network.
“Irthlingborough is convenient for both of our jobs and the location is ideal for long walks with our Miniature Schnauzer dog, Digby,” said Phil. “We both have a country background so The Hedgerows is in a great spot near to lots of walks and parks.”
The development, on Addington Road, is a small collection of two, three and four bedroom homes, near to local amenities, sport and leisure facilities and schools. Prices start at £119,950 for a two bedroom coach house with garage, which currently includes stamp duty paid for people in a position to move in during June.
Debbie Box, sales manager for Persimmon Homes Midlands, added: “Help To Buy was introduced to help people who could afford a mortgage but were struggling to save the large deposits previously required.
“With Help To Buy, you only need a five per cent deposit and a mortgage for 75 per cent of the property’s value. The remainder is covered by an equity loan from the Government, which is interest and repayment free for five years.
“The scheme has been hugely popular across our region, enabling more than 126 local people to move into their ideal home since its launch last year.
“For more information, call in to The Hedgerows and speak to a sales advisor.”