Help to Buy made it possible for us to buy a home for our family
Mark Lebourne, an IT Manager and his wife, Cherry, were privately renting in Eastleigh with their five children, when they came across the Help to Buy Equity loan scheme online.
Mark and Cherry were interested in moving into a new build property and, when researching on the Help to Buy South website they found a scheme in the village they already lived in which was perfect for their family. “We didn’t want to move our girls from their primary school or our son from his college,” says Mark, “it was also close to family and friends and suited us because of the size.”
They discussed the option of the scheme with the developer of the estate and their mortgage broker and before they knew it, they were on the property ladder. “It was a lot easier than we thought. We went to look at the house one weekday and by the weekend our offer had been accepted. Our mortgage broker helped us along the way and the process was very simple.”
With the Help to Buy Equity Loan scheme, the Government can lend you up to 20% of the cost of a new build home, meaning you would only need a 5% deposit and a 75% mortgage to own your brand new home. The loan is interest free for the first five years. *
“We now have a four bedroom detached property and all the bedrooms are good sized doubles”, says Mark, “the developer even included some additions to the house as standard, such as wardrobes and even a loft ladder! We had to pay nothing extra.”
The Help to Buy Equity Loan scheme has made it possible for Mark and Cherry to save a deposit for a home that they didn’t think they would be able to afford. “Saving up a large deposit with a family is hard and using Help to Buy has made us homeowners again without the worry of having to rent.”
Mark adds, “My children love the house. We look out over fields with cows and sheep in them and we can even see the stars in the garden. We would definitely recommend the scheme.”