New help to buy scheme set to help first time buyers in York

Barratt Homes' Mortimer Park development

First time buyers in York have an opportunity to take the first step on the property ladder this year following the launch of a new government-backed Help to Buy scheme.

The brand new scheme is exclusive to first time buyers only and is available on new properties that are built after 1st April 2021. The price cap applied to Help to Buy homes in Yorkshire means buyers in York can use the scheme on new homes priced up to £228,100.

Barratt Homes is ready to assist prospective buyers at its Mortimer Park development in Driffield and is encouraging those interested in securing a new home to book an appointment with a Sales Adviser.

With Help to Buy, buyers are able to purchase a new home with just a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is funded by an equity loan, interest-free for the first five years and repayable on the sale on the home.

Paul Hogan, sales director at Barratt Homes Yorkshire East, said: “The launch of the new Help to Buy scheme has arrived at an opportune time for first time buyers looking to begin their journey as a homeowner and fulfil those new year goals. The government-backed scheme is a fantastic stepping stone for anyone looking to get on the property ladder with just a five per cent deposit, providing an opportunity for young couples to secure a first home together, or allowing renters to find a home of their own.

“We have a selection of properties with Help to Buy available at our developments across the region and we’re looking forward to assisting property seekers with their move.”

 

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