It has been almost ten years since it first began, but it seems that the end is now nigh, for Home England's long-running Help-to-Buy Scheme.
Introduced in 2013, the scheme was developed as a way to kick-start the housing market after the financial crisis, with over £20 billion having been used in this time, to help people into homeownership.
The Help-to-Buy equity loan scheme requires home buyers to have a small deposit (as little as five per cent), with up to 20 per cent of the property’s sale price covered by a government ‘equity loan.’ This loan is interest-free for the first five years, although there’s a monthly £1 management fee during this period.
After this point, an interest of 1.75% is payable, with this rising annually by the Consumer Price Index...plus two per cent. The repayable amount can be settled at any time, or most commonly when the property is sold, as a percentage of the market value.
With the clock now ticking on final applications, the stock of homes offering the scheme is understandably on the decline. In the Maidenhead area, however, the new Monaco House development launched by Braxton, is giving the Royal Borough's credit-worthy residents a last ditch opportunity to take an assisted step onto the property ladder.
Monaco House is a collection of 1, 2 and 3 bedroom apartments, which are conveniently located near to Maidehead’s main railway station, with its new Crossrail links, along with its shops and leisure facilities, which are currently subject to ongoing redevelopment.
Each plot is well-appointed and spacious, with modern contemporary white gloss kitchens and integrated appliances. Many plots also benefit from outside space, as well as a gated car park with allocated parking.
Given that any first-time buyers looking to take advantage of the Help-to-Buy scheme will have to reserve a property by the end of October - two months earlier than was initially expected - early viewing of the remaining available plots at Monaco House is highly recommended, to avoid disappointment.
For more details, and to discover more about the help-to-buy scheme, please contact Braxton on 01628 674234.