Hundreds of graduates flock to the City with large hopes and dreams, yet the one thing holding them back in London is a lack of available and affordable housing.
Thankfully, the Help to Buy equity loan scheme could change that.
The government backed scheme allows homebuyers to buy a home with just a 5% deposit and has been deemed a massive success according to a recent report conducted by the Government research departments.
The extension of the Help to Buy London scheme has provided a vital lifeline for many looking to get on the Property Ladder for the first time, helping to reduce the average age of buying a London home which stood at 40 years in 2015.
Inspired Homes have recently featured in the First Time Buyer magazine with our case study about Project Manager, Toni Popova and her boyfriend Jack Moorcroft, who have been able to purchase an Inspired Home using Help to Buy London.
“We’ve been saving for about a year, with the intention of getting on the property ladder by the end of 2016; we’ve managed to pull together a deposit of £27,000, which includes financial contributions from our families. When we heard the Government was extending the Help to Buy scheme to Greater London and increasing their contribution to 40% we realised we could be in our own place much sooner than expected.”
Toni and Jack is a classic example of how Help to Buy has enabled buyers to get on the ladder much quicker than previously expected and with the rate that house prices are increasing it can save buyers a considerable amount.
“We knew we’d have to act fast, in order not to be priced out of Croydon, where demand is high and where house prices are rising very quickly”
There you have it…absolute proof in the pudding! Help to buy has been a success and has already helped hundreds of first-time buyers to get onto the property ladder.
Our London and Greater London homes start at just £199,950.