Springfield Sees Help to Buy Sales Boost

29 November 2013
help to buy sign web EMR

Springfield Properties has seen a surge in new-build house sales thanks to the Help to Buy scheme that makes it easier to secure a mortgage.

Under the scheme, which is available to all new-build home buyers, a deposit of just 5% is required to receive Scottish Government-backed interest-free funding of up to 20% of the purchase price of a new-build home.

Major banks are unveiling mortgages which they will offer under the Help to Buy scheme.

Sales manager Joyce Napier says the new scheme is ‘vitally important’ to buyers of new properties and has already had an impact on sales since it was launched at the start of October.

“The Help to Buy scheme is amazing and has made a big difference to buyers of our new-build homes. The scheme is flexible and attractive to buyers and I’m sure will have the same continuing positive impact on sales that we’ve experienced since it started.

“The scheme is important for potential buyers of new-build homes and the Scottish house building industry.”

Help to buy is available on properties up to a value of £400,000 leaving new home buyers to secure mortgages of 75%. The interest-free equity loan can be repaid off during ownership of a property or when it is sold.