Budgeting with Help to Buy

Budgeting with Help to Buy

Since its launch in 2013, the Help to Buy scheme has seen a rise in property sales across England and Wales.

Data comparing completed house sales of January 2013 and January 2014 showed an increase of 43%. Yet despite this, many are still wary of stepping onto the property ladder.

Recent surveys suggest that potential buyers are worried about the rise of interest rates, finding money for a deposit and the cost of moving. This combined with what appears to be a fluctuating market, prevents many from pursuing their dream home.

Know your budget

The Help to Buy scheme encourages buyers to invest in the future. Offering a 5% deposit, the initiative is split into two separate schemes – an equity loan and mortgage guarantee. It’s all the financial support prospective buyers need to get started; a stable alternative to lifetime renting.

For many, estimating and sticking to a budget is the toughest part to buying a new home.  If you’re considering a mortgage, always ask your lender for additional information, support and advice.

If you’re deciding upon a budget, take a look at this helpful widget from Barratt Homes. It answers those all-important financial questions at the touch of a button.

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Categories: Featured

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Barratt Homes

Barratt Homes is one of the largest residential property development companies in the UK. Founded in 1958, they’ve grown to become one of the largest and best known home builders in the industry that includes some of the sector’s most successful brands: Barratt Homes, David Wilson Homes, Ward Homes, Barratt London and Wilson Bowden Developments. These businesses build and sell thousands of new homes and commercial and mixed use property, ranging from starter and family homes, through to exclusive luxury apartments, and offices to retail parks. They also provide affordable homes for rent and shared ownership, helping meet Britain’s growing housing need in towns and rural areas across the country. Barratt is officially the highest quality major national housebuilder, having achieved 5 star housebuilder status; they are the only major national housebuilder to have been awarded the maximum 5 star rating for five years in a row. In their citation judges recognised them as an “outstanding all-rounder, showing prowess in the fields of zero carbon, regeneration, design and landscaping.