Following an announcement that the number of UK first time buyers has hit a seven year high thanks to Help to Buy*, Countryside has reported a wave of new generation first time buyers at its NGV Liverpool development off Stalisfield Avenue. Prices start at just £98,000**.
Having sold 95% of the current phase at the stunning NGV development through the Help to Buy scheme, Countryside has announced a drop in the average age of its buyers, with many now in their early twenties.
Peter Vella, Regional Sales and Marketing Director, Countryside, commented: “The recent statistics show that there were 31,400 new UK home owners last month alone and this is certainly representative of the surge we are seeing at NGV Liverpool.
“What’s more, since it launched last March, Help to Buy has given a huge boost to many people who would otherwise have been stuck in the rental trap and we are noticing that more and more young buyers now have the confidence to make the step onto the property ladder.”
25-year-old first time buyer Gemma Dewhurst is the latest in a line of young buyers to take advantage of Help to Buy at NGV, having purchased her brand new three-bedroom home through the scheme.
Gemma said: “Myself and my partner previously rented and I always thought that at 25 I would be too young to buy my own home. With Help to Buy you only need a 5% deposit, making it much more achievable to save. Countryside also gave us a lot of guidance with our mortgage application, making it possible to get from our first viewing to moving day in just six weeks.”
Through Help to Buy buyers own 100% of their home whilst receiving an interest free equity loan of up to 20% and requiring only a 5% deposit. For a three-bedroom home at NGV Liverpool priced at £123,000, buyers need only find a 5% deposit of £6,150** and a mortgage for £98,400**.
Peter added: “Until recently, the average first time buyer age was 35*** due to the hefty 20% deposits required, which on a £123,000 home would equate to £24,600. This would take a long time for young buyers to save, especially when renting. The beauty of Help to Buy is that it means that people can buy now instead of waiting for years to save.”
With three and four bedrooms properties available, NGV is situated in the suburbs of Liverpool and has grown to become a vibrant and welcoming neighbourhood with excellent transport links and a range of local amenities nearby.
The NGV Show Village is open daily from 11am until 6pm at 32 Deanscales Road, Liverpool, L11 2XU. For more information visit www.ngvliverpool.co.uk or contact the sales team on Tel: 0151 909 5508 or e-mail firstname.lastname@example.org.
Posted in News | Comments Off on Help to Buy: One Year On