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First Time Buyers unaware of Help to Buy and other government schemes

Latest research by Precise Mortgages has found that a significant number of First Time Buyers are unaware of the various schemes that are available from the Government to help them purchase a property such as the Help to Buy scheme.

41% of those surveyed had a low awareness of the Government’s Help to Buy ISA which was launched last year. This was reported on the What Mortgage Magazine website in April*.

What this means for First Time Buyers

Help to buy logo

Adam Nanson independent mortgage broker from Your Mortgage Expert in Salisbury comments:

“The Help to Buy ISAs, introduced in December, give a great boost to First Time Buyers looking to save for a deposit for a home. They can put away £200 a month in a dedicated ISA and the Government will the top this up by 25%, up to a maximum of £3,000.

“It’s such a shame that more First Time Buyers are not aware of schemes such as this one as affordability can be a barrier for those looking to purchase a home. In fact, the research by Precise also found that 37%* of renters are not looking to purchase a property because they believe they can’t afford to save for a deposit.”

How Your Mortgage Expert can help

 “We understand how the various schemes available from the Government work and can give you advice to help you get your foot on the property ladder. We can let you know if you are eligible, how to apply and can find you the most appropriate deal. We can also help you understand what you can afford and which of the lenders who have signed up to the scheme would be best for you.”

If you are interested in finding out more about the Help to Buy scheme why not contact Your Mortgage Expert. We don’t charge for the initial consultation, so by speaking to us, you are under no obligation. We are based in Salisbury, Wiltshire, but we can help you no matter where you live in the UK.

Simply call us on 01722 322683 or complete a contact us form on our website and tell us when it would be best to get back in touch with you.

You might also find it useful to read the dedicated Help to Buy page on our website. Alternatively, read about Chris, a First Time Buyer from Fareham. Adam Nanson from Your Mortgage Expert helped him to buy a property using the Government backed Help to Buy equity loan scheme.

The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Please note, by clicking on the link below you will be departing from the regulated site of Your Mortgage Expert Ltd. Neither Your Mortgage Expert Ltd nor TenetLime are responsible for the accuracy of the information contained within the non-regulated site.

*Source: http://www.whatmortgage.co.uk/news/first-time-buyers/homebuyers-unaware-government-schemes-help-get-property-ladder/