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Home sales boosted by Help to Buy

HOMEBUYERS in Worcestershire are still being given a lift by a Government scheme designed to make homeownership more achievable for those with just a 5% deposit.

The number of properties sold under the Help to Buy initiative in Worcestershire since its launch in April 2013 has reached 680 according to latest figures from the Department for Communities and Local Government*.

Elan Homes has seen its sales bolstered by the scheme, which provides an equity loan from the Government for up to 20% of the purchase price, enabling homebuyers to secure a 75% mortgage with just a 5% deposit. Offered on homes under £600,000, it’s available to everyone, not just first time buyers, but only on new builds.

Home are available through Help to Buy at Elan’s Derrington Mews development where just five properties remain for sale.

Andrea Nippe, sales director for Elan Homes, said: “Help to Buy has helped hundreds of people in Worcestershire since its launch, and almost 50,000 homebuyers have benefited nationally. It could mean the difference between buying a home with three or four bedrooms, or allowing families to keep some cash back to spend on new furnishings, a new car or other luxuries like a holiday, which they may otherwise have had to sacrifice for a larger deposit.

“Our homes at Derrington Mews boast a family friendly village location surrounded by open countryside. We’ve only recently opened our view home and have already reserved three properties off-plan.”

The intimate development, a mere four miles from the historic city of Worcester, will appeal to those looking to base themselves within an easy commute of the city.

While the homes are located on the edge of a small village and have a traditional appearance in keeping with their surroundings, inside they are light, bright and modern; benefiting from a contemporary and stylish internal specification, fitted kitchens and built in appliances.

Prices are from £340,000 for a four-bedroom detached family home. With Help to Buy this property could be purchased with a deposit of just £17,000.

The view home and marketing suite are open Thursday to Monday, 10am to 5pm.

To book an appointment to visit the site call Jess Pugh on 01905 821066 or email derringtonmews.sales@elan-homes.co.uk.