Potential homeowners across Rotherham are being given the chance to get a foot on the property ladder, all due to a new government initiative supported by Martin & Co.
After recently launching a new estate agency service to compliment a successful letting portfolio, Martin & Co are committed to helping people find and own their dream home, and are backing the new government scheme that aims to make this dream a reality. By offering a range of properties that fit with the ‘Help to Buy’ criteria, Martin & Co Rotherham are giving first-time buyers and home-movers the opportunity to purchase their own residence through the new scheme.
The ‘Help to Buy’ initiative is designed to offer affordable options to help people purchase their own house, by avoiding the large deposit sum that usually hinders prospective buyers. There are currently two phases of the ‘Help to Buy’ scheme, both offering low-deposit options to benefit prospective buyers.
The ‘Help to Buy’ equity loan makes up phase one of the government backed scheme. Deposits as low as 5 per cent are offered to those who want to buy a new-build property. The government lends 20 per cent of the value of the house through an equity loan, which is interest free for 5-years and can be repaid at any time. Prospective buyers then need to secure a 75 per cent mortgage to cover the remaining costs. The scheme is available to both first-time buyers and home-movers in England, on homes worth up to £600,000. The mortgage guarantee is the second phase in the ‘Help to Buy’ series of schemes. The initiative has been launched three months earlier than originally anticipated and provides the opportunity to buy a house with a deposit of only 5 per cent of the purchase price. The buyer approaches a lender for a 95 per cent mortgage, with the government bearing some of the lender's risk. The property must be for sale at £600,000 or less and can be newly built or already existing.
Gary Moss – Senior Negotiator & Martin & Co Rotherham said: “The ‘Help to Buy’ initiatives are an affordable option for those who aspire to buy their own home. We are passionate about finding the perfect house for prospective buyers and this new scheme makes owning your own home a realistic and achievable aim, particularly for first time buyers.
“We are constantly adding more properties that qualify for the initiative, so now is the perfect time for those thinking about purchasing their own home to visit us to find out how we can get you moving on up the property ladder.”
Visit Martin & Co Rotherham at 5 Worrygoose Lane, Whiston or www.martincorotherham.co.uk to find out about properties for sale locally, that can be bought through a ‘Help to Buy’ scheme. Contact the office direct on 01709 544982 or alternatively email the office at Rotherham@martinco.com.