New Help to Buy scheme set to help North London's first time buyers
First time buyers in North London will have an opportunity to take their first steps on the property ladder, following the introduction of a new government-backed Help to Buy scheme.
The Help to Buy scheme is now exclusive to first time buyers and allows you to take out a loan between 5% and 40% of the full purchase price of a newly built home. Available throughout England, the scheme will run until 31st March 2023. It has been planned with regional price caps in place which limit the price on Help to Buy homes, which in London is £600,000. This means that homebuyers in and around London will be able to purchase a range of new homes with the support of Help to Buy.
Leading independent housebuilder Dandara is fully registered with Help to Buy and ready to assist prospective first time buyers at its new homes development at New River View in Winchmore Hill, North London. Over 80% of the one and two bedroom apartments fall into London’s regional cap. They all include balconies or terraces, modern decors, high specification kitchens and bathrooms and access to communal outdoor spaces.
Simon Pendlebury, Sales and Marketing Director for Dandara Northern Home Counties, commented: “The launch of this new first time buyer-focused Help to Buy scheme is one to be welcomed. Over 50% of our current reservations have been through Help to Buy. The scheme is a fantastic stepping stone for those looking to purchase a new home with just a 5% deposit and a 55% mortgage as it helps make monthly mortgage payments more affordable. It also provides the opportunity for young couples to secure a first home together and allows renters to find their own home.
“At New River View, buying trends have shown that the location is appealing to the 35 and below demographic, re-asserting its suitability as apartments for first time buyers. It has already become a popular spot among locals.”
New River View benefits from an urban village lifestyle with convenient commuting links from Winchmore Hill station taking you into central London. The Winchmore Hill Green area is surrounded by chic boutiques, cafes, restaurants and shops. The area also has many sought after schools, so it is no wonder that it is such an attractive place to live.