Aspiring home owners in Northumberland are being urged to take advantage of the Government’s Help to Buy scheme while it is on offer, or risk further delays to owning their own home.
New Treasury statistics for Northumberland reveal that the Help to Buy scheme has enabled 133 individuals and families to obtain a mortgage and get on the property ladder in the last seven months.
Anne-Marie Trevelyan, Conservative Parliamentary Candidate for Berwick-upon-Tweed, was pleased the scheme had helped local people but warned those wishing to purchase their own home that it will not be around forever.
In a recent visit by Housing Minister Kris Hopkins MP, Anne-Marie discussed the housing situation in the constituency and reminded the Minister of the impact that Help to Buy has had in north Northumberland.
Anne-Marie said: “In recent weeks, many people in north Northumberland have contacted me to ask for more information about the support that is available to help them get on the housing ladder. I know that it can be very difficult to buy a house in the Berwick area and I hear from parents who are worried about the fact that their children and grandchildren are unable to set up on their own. Many young people with good jobs simply haven’t been able to get a deposit together though they can afford to pay a mortgage. They simply need help in securing a deposit.
“That’s what Help to Buy is there for, but my message is very clear: use it before we lose it. I really want to make potential buyers aware that Help to Buy won’t be around forever so I am urging potential buyers to make the most of it while it is here.”
The scheme is intended as a temporary measure and has been available in its current form since October 2013. It enables borrowers to put down a deposit of as little as five per cent of the property price, paying the balance in a mortgage.
Find out more on the Help to Buy website.