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Elan Homes busts myths for Somerset homebuyers

A YEOVIL housebuilder is keen to explain the facts behind a Government scheme to help homebuyers as many risk missing out.

With its Harbin Fields development in Pen Mill taking shape, Elan Homes believes that many people are not making use of valuable schemes available to them, such as Help to Buy, because they assume they won’t qualify or they don’t realise just how much they could benefit financially.

Andrea Nippe, sales director for Elan in the South, said: “It’s a common misconception that Help to Buy is only available to first time buyers, so we want to explain how families moving up the ladder to a larger home could really take advantage.

“In essence, Help to Buy provides all types of homebuyers with an equity loan for up to 20% of their new home’s purchase price. This means, on a four-bedroom detached home priced at £249,995, homebuyers could receive a loan from the Government for just under £50,000, which is interest free for five years. That’s an exceptional offer, which is simply not available from any bank or mortgage provider.

“Help to Buy could provide a huge boost to anyone looking to move to a bigger house even if they have limited equity in their current property. They can purchase a new build house with just a 5% deposit and should be able to access lower rates from their lender, given they will only require a 75% mortgage. However, the Help to Buy allocation is limited, so we’d advise homebuyers act quickly to ensure they take advantage before the schemes ends.”

With a show home now open, the executive homes at Harbin Fields are proving popular and can all be purchased using the Government initiative.

Tucked away in south Somerset, the development is less than 30 miles from Taunton and 40 miles from Bristol. Transport is within easy reach as the town is served by two railway stations – Yeovil Pen Mill, on the Bristol to Weymouth line and Yeovil Junction on the London Waterloo to Exeter line.

For families looking to make the move, the development is close to a number of fantastic schools. Grass Royal Junior School, Buckler’s Mead Community School and Milford Infants’ School are all close-by and further education is offered by Yeovil College.

All those interested in the Help to Buy can find out more by calling 01935  848862.