As Government statistics show Help to Buy has already helped 185,000 people own their home, Redrow continues to offer the price-busting scheme at all of its Yorkshire developments.
It means homes costing less than £600,000 can be bought with a Government-backed 20% equity loan that’s interest free for the first five years.
The good news for home buyers is that they should only need a 5% deposit and a 75% mortgage - and because of the reduced initial outlay their monthly mortgage repayments should be less than expected too.
“Home buyers win all round,” says Patsy Aicken, sales director for Redrow Homes (Yorkshire). “There were some reports last week that the scheme had closed, but that only applied to the lesser known mortgage guarantee part of the scheme. The more widely used Help to Buy for new-build homes continues apace, we’re happy to say – and our customers are happy to discover.
“It’s been hugely popular here in Yorkshire and we’ve helped very many people onto the housing ladder, including first time buyers and families who were previously trapped in a home too small for their needs.”
Nationally, the Help to Buy scheme has helped more than 185,000 people to achieve their dream of home-ownership since it was launched in April 2013. Of those, 150,000 have been first-time buyers, with 95% of sales outside London.
Announcing the latest statistics, Gavin Barwell, Housing and Planning Minister, confirmed: “Help to Buy is helping more people realise their home-ownership dream by reducing the need for large deposits and getting more new homes built.”
It is something Redrow has certainly seen. Last year, around 50% of customers who bought a Redrow home in Yorkshire used Help to Buy
Among them were Paul and Lindsay Dixon, who bought their Abode style Redrow home at Horsforth Vale, near Leeds.
Paul, an operations manager for an energy firm, said: “Help to Buy will make things a little bit more comfortable for us in the first few years and takes the pressure off.
“We didn't realise it was available to us because we already had a home of our own. It was the sales assistant at Redrow who explained it all to us and once we knew about it, it was a no brainer.”
Nkosinathi and Berth Zvimba used Help to Buy to purchase their Oxford-style family home at Nostell Fields in Crofton, near Wakefield.
Businessman Nkosinathi, 40, said: “Help to Buy made purchasing this house far more affordable and we could make sure our mortgage repayments were as low as possible.”
“Put simply, Help to Buy helps people to buy the brand new home they have dreamed of,” Patsy Aicken added. “Either it makes it affordable or more affordable; or it means people can invest in a better or bigger property than they had originally thought possible – perhaps avoiding the expense of a second move a little further down the line as their family grows or circumstances change.”
Help to Buy is readily available at all of Redrow’s developments across Yorkshire, including developments in or near York, Harrogate, Boston Spa, Selby, Leeds Keighley, Wakefield and Rotherham. Further information: www.redrow.co.uk/yorkshire
Redrow developments in Yorkshire where Help to Buy currently applies:
• Devonshire Gardens
, four and five-bedroom homes from £559,950. Info: 01423 582913 / www.redrow.co.uk/devonshire
• The Green, Horsforth Vale
, currently four-bedroom homes from £321,950. Info: 0113 318 0717/ www.redrow.co.uk/thegreen
• Abode at Horsforth Vale
, last remaining two and three-bedroom homes from £279,950. Info: 0113 440 6910/ www.redrow.co.uk/abodehorsforth
• Woodlands at Horsforth Vale
, four- bedroom detached properties from £520,950. Info: 0113 318 1107/ www.redrow.co.uk/woodlands
Newton Kyme, near Boston Spa:
• The Rectory
, currently four-bedroom detached Arts & Crafts inspired Heritage Collection homes from £454,950. Info: 01937865821/ www.redrow.co.uk/therectory
Sherburn-in-Elmet, near Selby:
• Saxon Gardens
, currently four-bedroom detached homes from £264,950. Info: 01977717516/ www.redrow.co.uk/saxongardens
• The Sycamores
, premium three-bedroom detached houses from £289,950. Info: 01977 710 864/www.redrow.co.uk/thesycamores
Steeton, near Keighley:
• Manor Fields
, currently three and four-bedroom homes from £216,950 for the three-storey Kenilworth. Info: 01535 259694, www.redrow.co.uk/manor
• Scholars’ Gate, Ruskin Avenue
, three and four-bedroom homes from £229,950. Info: 01924 588917/ www.redrow.co.uk/scholars
• Windsor Park, Newton Hill
, last remaining four-bedroom detached houses from £259,950. Info: 01924 588251/www.redrow.co.uk/windsor
• Nostell Fields, Crofton
, final few four-bedroom homes from £264,950, including fully furnished show home. Info: 01924 588474 / www.redrow.co.uk/nostell
Wickersley, near Rotherham:
• Hall Croft
, last remaining four-bedroom detached home £474,950. Info: 01709 318690/ www.redrow.co.uk/hallcroft
• The Granary
, currently four-bedroom detached Arts & Crafts inspired homes from £366,950. Info: 01904 565873/ www.redrow.co.uk/thegranary
• Lancaster Mews
, Georgian influenced Regent Collection homes from £319,950 plus two-bedroom apartments from £179,950. Info: 01904 275 070 / www.redrow.co.uk/lancastermews
Established more than 40 years, Redrow Homes is one of the UK’s leading house builders, with a £1.4 billion turnover and building more than 4,700 homes in 2015/16 financial year.
Operating across England and Wales, there is a strong emphasis on providing high quality homes in prime locations and its housing ranges feature designs to suit all lifestyles:
• The Heritage Collection combines traditional looking, ‘Arts & Crafts’ influenced exteriors with bright, modern, high specification interiors.
• The classically styled Regent Collection features Georgian inspired street scenes and architecture.
• Redrow has also launched a new brand of contemporary homes in Abode, which boast open plan layouts with streamlined kitchen, dining and lounge areas, high specification wet rooms and outdoor living space.
Redrow also creates exclusive bespoke developments in both rural and urban locations. The company has won numerous awards over the years, including, most recently, the Gold Award for Best Large Housebuilder at the What House? Awards 2015 and 2014, Best House Design at the Sunday Times British Home Awards 2015 and the 2014 Building Awards Housebuilder of the Year. Its ‘My Redrow’ online tool won the overall Customer Engagement category at the 2013 Peer Awards for Excellence. Web: www.redrow.co.uk