The official Government Help to Buy website
Claire Archer, 34, took her first step onto the property ladder thanks to the Help to Buy – Equity Loan scheme.
Claire, who works as a self-employed personal trainer, bought a two bedroom apartment at Charles Church’s Heald Point development, in Heald Green, Manchester.
On the market for £128,000, Claire was able to put down a 5% deposit of £6,400, and took advantage of the 20% equity loan offered to her by the Government. The equity loan equated to £25,600, leaving Claire a mortgage of £96,000.
As Claire explains: “When the scheme was first explained to me, buying my own apartment seemed so much more realistic than I imagined. I feared I’d be stuck paying expensive rent, which just seemed such a waste of money.
“I had a small deposit but the additional funding the scheme provided meant my mortgage payments came right down.
“I would never have been able to save that much on my own. I applied through Plumlife and pretty soon I was a homeowner!”