Last month’s budget in the UK brought a couple of unexpected surprises, one of which was the Help to Buy scheme. This scheme was welcomed by one of the UK's leading new homes retailer, Banner Homes, and it's hoped this new initiative will give the property market in the UK a much needed boost.
The Help to Buy scheme has two options designed to aid those looking to get on the property ladder, and those who are hoping to move up the property ladder, the so-called second steppers. Potential buyers can benefit from an interest-free loan courtesy of the government, or the government will act as a guarantor for part of the debt. The aim of the scheme is to help combat ongoing problems faced by the housing market, and Banner Homes thinks this is a golden opportunity for people who wish to own their own home, especially those who have experienced financial troubles.
Richard Werth of Banner Homes is enthusiastic about the new proposal saying "It's fantastic that the government has introduced a course of action that sees all homeowners benefit from this-and not just first-time buyers. The financial support offered means that the equity loan scheme could help over 25,000 households each year over the duration of three years-and even better, the mortgage guarantee system has the potential to approve an additional 550,000 house sales."
Banner Homes has three regional operational centers in the Midlands, and the Northern and Southern Home Counties. It is one of the country’s most reputable and successful new homes businesses, and is an award-winning company that specializes in identifying and satisfying the demands of home buyers, as well as anticipating new trends.
Werth went on to say "We’re optimistic that homebuyers will take advantage of the Help to Buy scheme as not only does it aid them-it also aids the housing market. People shouldn't have to settle for poor housing just because of their budgetary requirements. Everyone's entitled to the highest quality of living, and we hope to see a positive impact for homeowners everywhere."