How Help to Buy is Helping People Secure Their Dream Home

Earlier in the year, we published a blog post detailing everything you need to know about Help to Buy. The government scheme is still going strong and it’s still worth checking out how it could help you – if you haven’t done so already. There are so many success stories so far. In today’s blog post, we’re going to share some of these success stories and tell you how you could also secure your dream home.

What is Help to Buy?

For those who don’t know, we’ll quickly clear up what ‘Help to Buy’ actually means. This is a government scheme introduced back in 2013. It’s run by HM Treasury and the Ministry of Housing, available to residents of the United Kingdom. There are a few different sectors within Help to Buy, with different types of schemes catering to different people’s needs. The main ones you need to know about are: the Help to Buy ISA, Shared Ownership and Equity Loans. For more information on who qualifies for each scheme, check out our previous blog post or the government website.

But in a nutshell, it’s worth knowing the following:

  • You DON’T have to be a first-time buyer
  • The house price cannot be over £600,000 outside London
  • You can’t let out a house through the scheme
  • No second homes are allowed, this must be your only current home

A real success story

There are many wonderful success stories under this scheme. As of February 2017, over 100,000 houses had been bought using Help to Buy! However, we thought it’d be best to highlight just a few in this post.

The first story comes straight from the government website and is a classic example of the kind of person this scheme is designed to help. Louise Highton is a 26-year-old research technician living in York and she only finished her PhD at university just a year before buying her new home. She didn’t think she’d be able to afford her own home so soon after university. However, she knew she wanted her own home as she’d be permanently living in York. After hearing about it in the news initially, Louise started making enquiries. Then, Louise was put in touch with a mortgage advisor and found the entire process ‘really simple’. She now lives in her own home in Derwenthorpe, York and is enjoying her new life!

Next up, this success story comes from The Telegraph. Back in 2013, not long after the scheme was first implemented, a family of four from Darlington bought their own home for the first time. Claire and William Walton were living in rented accommodation with their two children at the time. They actually met with a mortgage adviser on the day that Help to Buy was introduced! With the money they’d saved for a deposit, the Waltons were able to get on the housing ladder through the scheme with a 5.5% two-year fixed rate mortgage. The family now live happily in their three-bed semi-detached home in Darlington – something they’d never imagined they’d be able to do.

How to apply for the Help to Buy scheme

Sound like something you’d be interested in? We don’t blame you. And there’s no harm in simply applying to see if you’re eligible and how you can get some help securing your dream home. This video informs you of how to fill out the online property information form (or, PIF), which can help you to apply for Help to Buy.

Alternatively, head to the government website where you can find out more information and figure out if this is the right route for you.

CB Homes supports the Help to Buy scheme

Yes, we’re pleased to say that we support the Help to Buy scheme here at CB Homes! Anyone considering buying one of our new-build homes will be able to do so using the scheme – assuming that they are eligible of course. As it stands, we have just one remaining property left on our beautiful Tilstock site: The Pastures. This 11-strong development of unique and charming homes boasts private gardens, off-street parking and quality fixtures throughout. If you would like to take a look at Plot 13 (the remaining home), then please visit our site here for more details or call Helen on 07400 062 349. The house is ready to move to and of course, there’s no chain. Remember, anyone can apply for the Help to Buy scheme to buy The Drayton – it’s not limited to first-time buyers. Check out some lovely snaps of The Drayton home below:

Want to speak to someone in person? You can get in touch with CB Homes by phoning us on 01829 730244. Alternatively, visit the contact page on our website! We’re always happy to advise on buying new homes and applying for the Help to Buy scheme.