Seddon Blog

New homes in Castleford need only an £8,850 deposit with Help to Buy!

Posted on January 20th, 2017

With Help to Buy helping thousands of new home owners in 2016, is it something you have considered? The scheme allows new home buyers to save a much smaller deposit than they would require when not using Help to Buy.

All of our new homes in Castleford are eligible for the Help to Buy scheme, which is one of the reasons that Silkstone has been so popular! For those who are not sure on what Help to Buy entails, we’ll break it down for you.

1) The new home buyer needs to save a minimum of 5% of the house value as a deposit.

2) The Government will then top this amount up with 20% of the house value through the form of an equity loan.

3) The new home buyer then only needs to secure a 75% mortgage as opposed to a 90% mortgage that they would need without Help to Buy.

4)Your equity loan then remains interest free for 5 years, until you start to pay it back in which time you could have saved money to help pay this back.

5) You then look back and smile at having saved yourself hassle, money and time by using Help to Buy to secure your dream home.

With our new build properties in Castleford starting at £177,000 a new home buyer at Silkstone would only need an £8,850 deposit to secure a wonderful 3 bed Firgrove house type.

3 bedroom home in castleford

So, if you would like to find out more about Help to Buy, why not pop into our show home where our Sales Advisor can answer any questions you may have and start you on your customer journey!

Blog page
back to top