Prime Minister Rishi Sunak has put Help to Buy “back on the table”, according to reports over the weekend.
The Times said officials in both Downing Street and the Treasury are looking at proposals to help support first-time buyers. The Help to Buy Equity Loan scheme ended on 31st March 2023. The scheme, originally launched by George Osborne in 2013, let people buy a new build home with a 5% deposit. Users of the scheme could borrow an equity loan from the Government of up to 20% of the property’s value, or up to 40% if the property was in London.
This was interest-free for the first five years. The Times reports that an extension was mooted before the spring Budget but was not taken forward amid fears that it would prove inflationary.
The Times quoted three Government sources as saying a new buyer’s support scheme was “back on the table” and could form part of the autumn statement. It has also been claimed it could be extended to cover older properties. “We cannot go into the next election without an offer for first-time buyers,” one minister told The Times. “We all know that homeowners are more likely to vote Conservative and we cannot cede this ground to Labour.”
The move comes as Labour pledged to support for first-time buyers and revive targets to ensure that the private sector would build at least 300,000 homes a year.
Labour has said that should it win the next election it will launch a comprehensive mortgage guarantee scheme and give buyers first option on new homes in their area.
Mark Finch Director At Mortgage Pathways said “Although this is a great scheme for First Time Buyers and potentially Home Movers depending on how and If they do bring it back. There is a risk it could put fuel on the inflationary fire. We’ve already seen what can happen with Liz Truss when government policy does not align with Monetary Policy. This may have to wait until we’ve tackled inflation then potentially a good move to bring it back for struggling home buyers.”
Join us for a Ways to Buy event at The Willows, Darlington this weekend
Our expert team will be on hand to give specialist new build mortgage advice to potential buyers at Story Homes’ Ways to Buy event this weekend (10-11 July).
The event, taking place at the housebuilder’s luxury development The Willows in Blackwell, Darlington, will help to get you moving into a Story home by providing expert advice and a range of incentives. Plus, the show homes will be open to view, which have been beautifully styled by renowned interior designers Adobe.
Story Homes invited Mortgage Pathways, specialists in new build mortgages, to take part in the event, to advise potential buyers and answer questions regarding mortgages, buying schemes and more.
Our new build mortgage advisers will talk through what you are looking for and look after the whole process of getting a mortgage for you. Once we find and process the mortgage application, we then handle everything through to completion, to make sure you meet any timescales for exchange that your builder may need.
While we may have been recommended to you from a housebuilder, we work 100% on your behalf, completely independently. This means we will always advise you on what is best for your individual circumstances and aspirations.
At The Willows, you’ll find a collection of prestigious 5-bedroom homes that are finished to a premium specification, including a fully-integrated contemporary kitchen, fencing, turf, patios, bi-fold doors and more.
Mark Finch, our Managing Director, says: “We’re looking forward to taking part in the Ways to Buy weekend, and advising buyers how they can secure a high-specification home on this exclusive development. The Willows really is something special and you can’t beat the quality and design of the properties or the sought-after location.
“If you’re wondering how you can move from your current home to a family home at this development in Blackwell, Darlington, come and meet us and we’ll be delighted to chat to you.”
This weekend only, Story Homes is also offering a complimentary luxury flooring package to those who reserve a home on the development (subject to terms and conditions).
Come along to The Willows this Saturday and Sunday (Carmel Road South, Blackwell, Darlington, DL3 8QN) or contact us for more information.
The Willows Darlington
Story Homes are opening their new Show Home at The Willows in Darlington on Saturday the 18th and 19th of January. These show homes are their new range available. The first show home available is a 5 bedroomed executive Detached house called the “Fairhaven”.
Interior Designers Adobe have styled this beautiful homes to allow home buyers to see the space, and attention to details that sets Story Homes apart.
The event starts at 11am till 5pm on the 18th of January, and we are available seven days a week to answer any questions you may have to help you purchase your new home.
Lyndsey Walton, Sales Manager at Story Homes, said: “Our new show home at The Willows gives a real insight into a luxury lifestyle. This is our first ever Fairhaven show home and it is fantastic to see this house type being brought to life. We are really excited for visitors to see this beautiful new property.”
The show home’s decor features a combination of pale pinks and soft greys and has a real contemporary feel. Abode has opted for sumptuous fabrics such as suedes and velvets, with carefully placed geometric patterned wallpaper to highlight statement areas. Bespoke upholstered curtains and cushions also add an exclusive touch to the bedrooms and living areas.
Stephen Mills, Senior Mortgage adviser at Mortgage Pathways say “ Story Homes signature range really is something special. We spoke to may of their clients at their Morpeth Development “The Oaklands” most of whom where blown away at the finish of their homes. We’re looking forward to helping potential Homes Buyers at The Willows in Darlington with the purchase of their New Build Home”
For more information about The Willows call our Mary on 01740 768382 or email [email protected], and if you need any assistance in planning your purchase please feel free to contact us on 0333 358 3822.
Ascent Homes are launching their new development St Paul Place in Cramlington. St Pauls Development will only have 19 properties available therefore expected to sell out very quickly. We’ve already been taking enquiries from customers who are ready to proceed to purchase their new home.
The Pre Launch event will be taking plan on Thursday the 16th of January at Concordia between the hours of 4pm and 7pm, where you can see plans for the three house types which will be developed as well as first released prices.
Mark Finch director at Mortgage Pathways says “this is the first event we’ve been invited to with Ascent Homes, we’re really looking forward to see the types of properties available. Feedback from customers at the moment has been very positive. I’m looking forward to joining them on the 16th “
Customers can benefit from the use of with only a 5% deposit, and additional exclusive products only available to New Build Advisers such as ourselves.
If you want any further information on how to finance, you new home please feel free to contact us on 0333 358 3822.
Fallows Park Part Exchange Weekend
Mortgage Pathways will be on hand to assist anyone looking for advice on how to move into their new Fallows Park home on Saturday the 11th and Sunday the 12th of January for their Part Exchange Weekend.
With Story Homes Part Exchange Scheme they are able to purchase your current property for up to 100% of the Market Value effectively making them a cash buyer allowing you to reserve the home you want. From experience, some of our clients prefer this method of purchasing their New Build Home as they have no estate agents to deal with or the associated costs. In addition it negates the need to move into rented accommodation while their new home is built saving potentially thousands and ensuring the journey of purchasing their new home as simple and enjoyable as possible.
Buyers need to be away that when using a Part Exchange scheme, they are unable to use the Governments Help to Buy scheme. However, we have access to a number of mortgages with only a 5% deposit some of which are exclusive products not available to none New Build Mortgage Advisers.
Fallows Park is set in Wynyard Park Estate offers semi rural living with many local amenities available, including many Ofsted rated “outstanding” school including Red House, Wynyard Primary school, and Sedgefield Community College
Jay sales executive from Fallows Park says “we’ve worked with Mortgage Pathways for a number of years now, they are the leading experts in the new homes mortgages sector”
If you want any further information on Fallows Park call Jay on 01740 768 342 or information on financing your new potential home our advisers are available seven days a week on 0333 358 3822.
So today was the day that I moved into my dream Bellway home with my best friend. It only took 7 life changing years preparing for this day. There’s been a lot of hard work and many, many sacrifices along the way in order to make this HUGE step up in our lives, but we finally made it. Being self employed is amazing, but it also means that getting the mortgage we needed wasn’t easy. We’ve spent the past three years biding our time, carefully planning and playing what seemed like an endless waiting game to get ourselves in a position to proceed. Over seven years ago we bought our first house together. It wasn’t the house we immediately fell in love with, but we turned it into an amazing little home filled with good times and fun memories. I’m not going to lie, leaving our home to move into this new house had its share of sadness today, but this new house is absolutely worth everything we’ve been through to get here. We love it!! Our new house isn’t a home just yet, but in time it will be and we can’t wait to build our future here together. Shazia I love you for everything that you do, especially for supporting me and standing by my side on this crazy adventure. A huge thank you goes to Mortgage Pathways for being the mortgage maestro that they are. We are forever grateful !
