The official Government Help to Buy website
Help to Buy scheme has helped to give primary school teacher Catherine Hegarty the opportunity to move into her first home in Scarborough.
Launched in January, Help to Buy gives home buyers the opportunity to purchase a property with a deposit of just 5%. And it was this opportunity that first time buyer Catherine, a primary school teacher in Scarborough, took advantage of.
Currently living with her parents, she has bought a new four bed, terraced house and has already started to re-decorate before she completes her first move.
Catherine said the Help to Buy scheme ticked all the boxes for her:
“Buying a house with a deposit of 5% meant I could afford a better house, which is great for me as a first time buyer. Saving for a deposit is hard but because I only needed 5% it meant that I could spend more of my savings on the essentials, like furniture and everything I needed to re-decorate” said Catherine.
“The process of going through the scheme was really easy – a lot easier than I thought it would be. In the end I managed to complete the whole process within four weeks and now I have my own place, so everything has worked out really nicely for me personally.”
Michelle took out her mortgage with Lloyds Bank. Commenting on the scheme, Marc Page, Mortgages Director at the bank said:
“Help to Buy addresses some of the real problems that prospective home buyers might face. It’s great to see first time buyers like Catherine going through the scheme and getting the keys to their new home.”