Husband and wife Alice and Daniel Milner weren’t even planning on buying a new home but Help to Buy changed all that.
“As soon as we drove onto the site we fell in love,” Alice says. “We’re quite outdoorsy so the fact it was surrounded by fields really appealed to us, and the location meant we would be closer to my parents too. It ticked all the boxes.”
Alice explains, “We’ve been renting for 6 years and weren’t planning to buy. I knew a little bit about Help to Buy so I thought it would be a good opportunity to see what our options were.”
Through the Help to Buy scheme, you only need to raise a 5% deposit and can access the support of up to 20% in the form of an equity loan from the Government. There’s nothing to pay on the loan for 5 years as it is interest free until year 6.
Alice says, “It was really great to have people to talk to about Help to Buy and to see all the upcoming developments in our area. The mortgage advice was so helpful too, we were able to sit down with an adviser one-on-one and assess our affordability so we knew what was in our price range.”
Alice explains, “Once we decided to go ahead we knew we had to get the money together for the deposit so we moved in with Daniel’s parents in order to save. Even though we’re back living at home, Help to Buy has made it a lot easier for us and means we’ll have our deposit much quicker.”
She goes on further to say, “We were renting an old cottage which had damp, and because I have asthma it was making me ill. So I’m really looking forward to moving into a brand new house!”