Help To Buy is continuing to help cash-strapped Londoners who want to get on the property ladder.
The scheme covers new homes valued up to £600,000 and allows buyers to borrow 40 per cent of the purchase price from the Government in the form of a loan, repayable later.
This means they have to put down only a five per cent deposit and take out a 55 per cent mortgage — more achievable for lower earners with little in the way of savings.
The scheme has fuelled demand for new homes across the capital and into the commuter belt.
Help to Buy has already been used by more than 12,000 Londoners and the number is rising fast as developers rush to register new housing schemes.
HELP TO BUY: THE HOTSPOTS
Today Bellway will unveil more than 300 Help to Buy homes across 10 developments. Locations include Greenwich, Stratford, Camberwell, Acton, Croydon and Old Isleworth. Prices start at £244,995.
The special event takes place at Grange St Paul’s Hotel in City of London (bellway.co.uk).
Though most central London developments are too high-value to fall within the scope of the scheme, Help to Buy has opened up the market in all travel zones, according to Patrick Gower, research associate at Knight Frank.
“Hotspots have emerged in areas where affordability dovetails with exceptional transport links.”
These areas include Barnet, Greenwich, Hillingdon, Lewisham, Tower Hamlets and Croydon.
THREE FAST-CHANGING AREAS WITH HELP-TO-BUY HOMES
https://www.homesandproperty.co.uk/property-news/buying/where-to-find-help-to-buy-homes-in-four-fastchanging-london-areas-with-good-transport-links-a124946.html