Moving on up (and it’s easier than you think)
PUBLISHED: 20:18 13 May 2018 | UPDATED: 20:19 13 May 2018
A total of 2,478 home buyers in Norfolk have so far used the Help to Buy scheme including 1,900 first time buyers. Alison Page, of David Wilson Homes, discusses the options.
Second steppers and existing homeowners can sometimes struggle with jumping up a rung on the property ladder.
Homeowners often find themselves in need of more space, whether that be for an extra bedroom for a new addition, needing a bigger kitchen as the children get older and needing a garage as teenagers learn to drive; an expanding family means a need for a larger home.
Buying a property with the space your family needs can seem out of reach. Luckily there are ways to make the step up the property ladder more affordable.
The government-backed Help to Buy initiative is a great tool to make taking a step up the property ladder a bit more manageable. Under the scheme you can purchase your dream home with just 5 per cent deposit and 75 per cent mortgage, with the remaining 20 per cent coming from an equity loan from the government which is interest free for five years.
A total of 2,478 homebuyers in Norfolk have used the scheme but less than a quarter of those were existing homeowners, with over 1,900 first time buyers using Help to Buy. There is a myth among househunters that only first time buyers can take advantage of the initiative but Help to Buy is also available for existing homeowners to use to give them a boost up the property ladder.
Combining Help to Buy with another one of our schemes such as Movemaker can make your move even easier. With Movemaker we help to sell your existing home by instructing an estate agent on your behalf, cutting out estate agent fees and the hassle of chasing the estate agent yourself.
Making home ownership more affordable is not just open to first time buyers and I would encourage anyone with a home to sell looking to take advantage of Help to Buy to speak to our expert sales advisers on how to bring the next rung of the property ladder in reach.
For more information on our homes for sale, please call the sales information line on 0844 811 3888 or visit www.dwh.co.uk.
David Wilson Homes has sponsored this column.