1,600 homes bought with Help to Buy across Vistry Kent developments

1,600 homes bought with Help to Buy across Vistry Kent developments

More than 1,650 people have purchased a new home at Vistry Kent developments using the Help to Buy scheme since its launch in 2013.

The Government initiative, which comes to an end next year, enables buyers to secure a new-build property with just a five per cent deposit and 75 per cent mortgage, with the remaining 20 per cent of the purchase price provided as an equity loan which is interest free for the first five years.

Exclusively for first-time buyers since April 2021, the scheme was previously available to existing homeowners as well as those taking their first step onto the property ladder.

A total of 1,653 new homes have been purchased at Linden Homes and Bovis Homes developments in the county with Help to Buy since it was introduced almost a decade ago.

The two brands are part of the national housebuilder Vistry Group, whose Kent region is based in West Malling.

There are currently homes available to purchase with Help to Buy at Vistry developments in Faversham, Ash and Wouldham. The scheme can be used on new-build properties priced up to £437,600 in the South East region.

Millie Groves, marketing manager for Vistry Kent, said: “The Help to Buy scheme has been a huge success in helping people to get on or move up the property ladder. The fact that 1,653 of our customers have used the initiative since 2013 demonstrates just how beneficial it has been for housebuyers in the county.

“It has been great to witness buyers getting the keys to their first home sooner than they thought possible thanks to the scheme. Customers who have used Help to Buy have been full of praise for the initiative, with the vast majority saying they would recommend it to others.

“While it is no longer available to second steppers, Help to Buy remains a valuable tool for would-be first-time buyers unable to put down a typical 10 per cent deposit or secure the size of mortgage they would require without the equity loan.

“We have a range of two and three-bedrooms at our developments which fall within the regional Help to Buy price cap and can therefore be purchased with the scheme. However, with Help to Buy coming to an end on 31 March next year, buyers will need to reserve their new home by 31 October this year to qualify for the scheme.”

Davington Fields in Faversham, Harfleet Gardens in Ash and Osprey Rise in Wouldham are the Bovis Homes developments where homes are available with Help to Buy. A selection of properties at the Linden Homes Osprey Rise development in Faversham and Bridgeside Walk development in Wouldham are also eligible for the scheme.

Property & Development Magazine | The Home of Residential Sector News

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