As New Homes Week gets underway (May 14-18) latest government figures reveal that more than 2,700 homebuyers in the Bristol area have used Help to Buy to purchase their new home.
The figures reveal that 2,736 people in Bristol and North East Somerset, the City of Bristol and South Gloucestershire have used the scheme since it was launched in April 2013.
Help to Buy has been particularly vital to help first time buyers onto the property ladder with this sector accounting for 81 per cent of sales.
Andrea Pilgrim, sales director for five star housebuilder Barratt Homes, said the scheme has been a real game changer.
“There’s no doubt that Help to Buy has proved extremely valuable for so many first time buyers and we’re thrilled that we’ve been able to play our part with first time buyers now living at a number of our new developments in the area.”
She said New Homes Week is set to give the scheme an additional boost this week with the focus on the benefits of new homes.
“New homes are cheaper to run than older homes, you have a blank canvas to make it your home and there is a 10 year warranty for peace of mind,” said Andrea. “And when you factor in the financial benefits of Help to Buy you can see why people choose a new home.
“However it’s vital that we keep spreading the word that buyers need just a five per cent deposit to buy a new home so we can help even more first time buyers this year,” added Andrea. “We see first time buyers who are not aware of the scheme and have a pleasant surprise when we explain the details and how it can help them become homeowners.”
Help to Buy enables anyone, both first time buyers and existing owners, to put down just five per cent as a deposit for their new home and to take advantage of a government equity loan together with access to more affordable mortgage rates.
On the Barratt Homes website there is lots more information on Help to Buy - http://www.barratthomes.co.uk/Offers/Help-to-Buy/ together with a handy calculator which shows how much people can borrow using the scheme.
Barratt Homes is currently working on new developments in Bristol including Charlton Hayes, Park Farm, Bilbie Green, St Matthias, White Church Court and Filwood Park which launches this summer.
For more information about New Homes Week call 0844 5710 385 or visit www.barratthomes.co.uk.
Breakdown of total Help to Buy sales within the Bristol area since the scheme launched in April 2013.
Bristol area figures First time buyers Total number Bath and North East Somerset 501 City of Bristol 776 South Gloucestershire 1459 Total 2736