Young buyers find their forever home in Telford
Young buyers, Melissa Williams and Richard Simpson were able to break the rental cycle by buying their perfect family home at Countryside’s Silkin Green development in Telford, thanks to the Government backed Help to Buy Equity Loan scheme.
Melissa (25) and Richard (27) started looking for their forever home back in October 2018, following the arrival of their son Wyatt. Having saved for two years using Help to Buy ISAs, their dream home has now become a reality.
The scheme allows buyers to purchase a new home worth up to £600,000 with just a 5% deposit and a 75% mortgage. The remaining 20% is covered by an equity loan from the government, which is interest free for the first five years.
Melissa commented: “We’d been saving for our first home for two years using Help to Buy ISAs, as well as our personal ISAs, but when Wyatt was born we really needed to find somewhere bigger for our family. Along with our savings, we used the Government’s Help to Buy Equity Loan scheme, which meant we only needed a 5% deposit. The Government lend you up to 20% of the cost of a new home which is amazing as it made securing a mortgage much easier.
“The Help to Buy scheme also made the buying process a lot smoother, as the mortgage advisors did everything for us and kept us well informed. As first time buyers, you do worry about everything - wondering what’s going on, how do we pay, who do we pay etc. But, we were really reassured as Countryside explained everything.”
Moving only three miles down the road, Melissa and Richard didn’t have to look too far for their dream home, which they found at the Silkin Green development in Telford. Melissa continued: “We loved the area as it’s very secluded and quiet, plus the park and woodland is perfect for Wyatt to play in when he’s older”.
Joanne Bradbury, Regional Sales and Marketing Director at Countryside, said: “It’s amazing to see how Help to Buy, both the Equity Loan scheme and ISAs, are assisting young families onto the property ladder. We wish them, and Wyatt, a lot of happiness in their new family home”.