Five years of Help to Buy has helped more than 1,000 homebuyers in Plymouth

Figures just released for the first full five years of Help to Buy in Plymouth have revealed that more than 1,000 homebuyers have used the government scheme to buy their new home.

The figures show that 1,023 people in the area have taken advantage of the scheme since it was launched in April 2013.

Sara Parker, sales director for Barratt Homes, said the first five years of Help to Buy have had a huge impact on the property market.

She said: “There’s no doubt that Help to Buy has proved extremely valuable particularly for first time buyers who are now living at a number of our new developments in the area.

“New homes are cheaper to run than older homes, you have a blank canvas to make it your own and there is a 10-year warranty for peace of mind,” said Sara. “And when you factor in the financial benefits of Help to Buy you can see why people choose a new home.

“However, it’s vital that we keep spreading the word that buyers need just a five per cent deposit to buy a new home, so we can help even more first-time buyers this year,” added Sara. “We see first time buyers who are not aware of the scheme and have a pleasant surprise when we explain the details and how it can help them become homeowners.”

Help to Buy enables anyone, both first time buyers and existing owners, to put down just five per cent as a deposit for their new home and to take advantage of a government equity loan together with access to more affordable mortgage rates.

On the Barratt Homes website there is lots more information on Help to Buy - http://www.barratthomes.co.uk/Offers/Help-to-Buy/ together with a handy calculator which shows how much people can borrow using the scheme.

Barratt is currently working on a number of new developments in the Plymouth area including Redwood Heights in Plympton and Lucerne Fields in Ivybridge.

For more information call 0330 057 6000 or visit www.barratthomes.co.uk.