A government initiative is helping thousands of families in Somerset take their first steps on the housing ladder and new figures released by the Department for Communities and Local Government reveal that more than 800 homebuyers in the county have used Help to Buy since it was launched in April 2013.
Melanie Hale and Robert Durham are among the latest people to use the scheme to buy their new home in Yeovil – a four bedroom home from Barratt Homes at Wyndham Park.
To rent a home of this kind in Yeovil costs up to £1,200 per month according to local agent Connells but figures from The New Homes Group suggests that buyers could pay just £750 on a mortgage per month.
“The scheme has enabled us to buy the home we wanted in a great location,’’ said Melanie. “We already loved the design as we had been renting a home of this design on the development and Help to Buy meant that we could buy our own.”
The family which is originally from North Yorkshire love living close to family in Somerset and Melanie said that being close to local schools was a real selling point for the development.
“We were renting at Wyndham Park but knew we wanted to get on the property ladder and we loved the space and flexibility of the Wyndham,” said Melanie. “We looked around the area but nothing else met our expectations in terms of space which we love and the fourth bedroom is great for visitors.”
Barratt sales director Sara Parker said she was delighted to welcome the family to Wyndham Park and said they are a great example of how Help to Buy really works.”
“The scheme 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 providing access to more affordable mortgage rates,’’ said Sara.
“Melanie and Robert are great examples of people who have benefitted from the scheme and we hope we can help even more people move into their dream home at Wyndham Park.”
Help to Buy is available on a number of homes at the development including the four bedroom Wyndham which is priced from £237,995.
For more information about Wyndham Park call 0844 5710 385 or visit barratthomes.co.uk