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First time buyers can boost their savings with Help to Buy ISA

From 1 December 2015 our first-time buyers can take advantage of the new Help to Buy ISA scheme which gives every individual a cash boost towards the deposit on their first home.

Help to Buy ISAs are a no-brainer if you’re saving for a deposit for one of our eligible homes. It’s a tax-free savings product which the Government adds 25% on top of whatever you’ve saved.

Customers have been able to make the most of the Help to Buy scheme since 2013 and around 25% of Story Homes’ customers are currently using the equity loan to help them purchase their dream Story Home.

Help to Buy applies to new build properties priced up to £600,000. The scheme allows a customer to pay just 5% deposit, borrow 20% from the Government and take a 75% mortgage to secure their dream home. Help to Buy loans do not need to be paid back to the Government for five years, giving new home owners, including first time buyers, the security of smaller payments for the first five years in their new home.

For more information visit http://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work or speak to one of our Sales Executives.

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