A COUPLE have taken their first step onto the property ladder thanks to Help to Buy.
Luke Tyson, 27, and Lauren Dobson, 28, are settling into their two bedroom apartment at Evolve, the Barratt Homes Eastern Counties development in Grays, Thurrock.
The couple, who are both from Thurrock, wanted to stay in the area for work and to be close to family but feared they would be priced out of the market. After saving for a couple of years they decided to take advantage of the Help to Buy scheme for which they needed just a five per cent deposit. Help to Buy is available on new homes up to a value of Â£600,000 and once homebuyers have a five per cent deposit the government will lend them 20 per cent of the value of the property in the form of an interest free equity loan.
Luke, a dental practice manager, said: “We were saving for a couple of years, trying to find a five to 10 per cent deposit and when house prices started increasing we knew that it would be a struggle. We came to the realisation that if it was going to happen at all it really had to be with Help to Buy as prices were going up at a higher rate than we could save. It was down to having low monthly mortgage repayments and having a mortgage of 75 per cent rather than 95 per cent helped this massively.”
Luke said that he and Lauren, a pupil well-being ambassador, liked the idea of Help to Buy because it meant they could move into a new property.
He said: “Help to Buy helped us move into a new build property, with all the accompanying warrantees that come with it. When you’re buying an existing property you’re always worried about what could go wrong but we don’t have any of those worries.”
Barratt Homes provides a five year warranty on the fixtures and fittings installed at the time of purchase to the first owner or purchaser of the home.
Jason Colmer, Sales Director at Barratt Homes Eastern Counties, said: “It is fantastic that Help to Buy has enabled Luke and Lauren to buy their first property and I would like to take the opportunity to welcome them to Evolve. People who want to find out more about the Help to Buy scheme should speak to our sales advisers at our developments who will be able to give them the help and advice they require.”