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Second time around with Help to Buy for Tania and Andy
Tania and Andy had been privately renting for three years and were finding it difficult to save for a deposit.
“With such high rent it was just not feasible to save for a deposit quickly; it would have taken us about ten years and we were thinking about moving back in with parents to save money, ” remembers Tania.
She heard about Help to Buy where she works at Rightmove and after researching it the couple then went on to purchase their first home, a two bedroom house, using the Equity Loan scheme. The scheme enables buyers to secure a new home with a 5% deposit and a 75% mortgage. The remaining 20% is provided by an equity loan from the government which is interest free for five years.
Following the arrival of their son Henry, Tania and Andy realised that they were outgrowing their home and needed more space and that’s when they found out that Help to Buy is not just for first time buyers and that they could sell their current home, repay the equity loan and then buy a larger home with Help to Buy again.
They were eager to find a home nearer to their family and friends and were thrilled to find that Bellway Homes were building in Brackley, Northamptonshire which was exactly where they wanted to be.
They found the perfect property; a four bedroom family home and reserved it straight away. They were lucky enough to find a buyer for their existing home within a week, a first time buyer looking to move quickly, so they found themselves with the keys to their new home in less than two months of reserving!
Tania and Andy absolutely love their new home and little Henry adores his new bedroom which is decorated in a safari theme and also features his superhero P J Masks.
Tania says; “Help to Buy has changed our lives completely; we can see ourselves living here for the long term and it has all the space we need”.
Without Help to Buy, their whole lives would have been different too, as they would not have been able to think about getting married until much further down the line but now they have been able to bring that forward and will be tying the knot in November. We wish them every happiness!