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Paige and Elliot make a move onto the property ladder with Help to Buy
First time buyers Paige and Elliot knew exactly what they wanted; a home of their own. They were both living with parents and had been saving hard for a deposit.
They thought they would have to wait until the end of the year to buy but in February they went along to an open day held by St Modwen Homes at their Egstow Park site in Chesterfield, Derbyshire.
It was here that they found out about the Help to Buy Equity Loan scheme, which 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.
“We realised that Help to Buy was an affordable way for us to get onto the property ladder” says Paige and after looking round the homes at Egstow Park, they reserved a property there and then!
They took time to familiarise themselves with how the Help to Buy scheme works and their mortgage advisor helped them complete the relevant paperwork, but the whole process was really straightforward and they had the keys to their new home in May.
So what do they love most about their new home? Paige is quick to answer; “The fact that it’s brand new and we have don’t have to do anything to it”.
“I’d definitely recommend Help to Buy”, she continues, “In fact, one of my friends is thinking about buying through the scheme too”.
Looks like Help to Buy is definitely a winner for this couple!