First sales completed using Help to Buy

Despite initial concerns about the Government’s Help to Buy scheme being offered on high value properties worth up to £600,000, the average loan size is around £150,000, according to local estate agency Fox and Sons Kemp Town. According to data from its parent company Sequence, which recently completed on its first sale using the Government scheme, the second phase of Help to Buy is benefiting those who most need it, namely younger buyers who are struggling to raise a large deposit.

“Help to Buy has come under a lot of criticism because it is available on higher value properties but in reality it is mainly first-time buyers purchasing reasonably priced starter homes who are using the scheme,” says Fox and Sons Kemp Town Mortgage Services Consultant David Coyle-Woods “Our figures show buyers using the Help to Buy mortgage guarantee scheme are predominately in their early 30s.”

The recently launched second phase of Help to Buy is available on all types of property. Fox and Sons Kemp Town has seen a lot of interest from buyers on the back of the Government scheme, as well as more confidence in the housing market generally.

“Help to Buy has done a lot to boost the local housing market, not only in helping buyers finance their home purchase but also instilling confidence in buyers and sellers,” David continues. “Demand from buyers is currently outstripping the supply of homes coming onto the market so I would urge anyone who is thinking of selling their property to get in touch and see what sort of buyers we currently have registered.”
For more details on Help to Buy and how the scheme can benefit you, call the branch on 01273 688 148 or email Kemptown@sequencehome.co.uk

Help to Buy positive for lettings market
The new Help to Buy scheme looks set to have a positive effect, not only on the sales market but on lettings too, according to local letting specialists, Leaders.

Leaders’ managing director, Paul Weller says: “Help to Buy will assist existing home owners looking to move up the ladder to a larger home. In helping these buyers to move, the scheme will free up the properties they are vacating, many of which will be suitable not only for first-time buyers but also for investor landlords.”
According to Leaders, the scheme will have a positive effect on the lettings market by improving supply for tenants. “This is much-needed because in most areas demand outstrips supply and tenants need more choice of good quality properties,” says Mr Weller, who points out that not everyone who rents does so because they are unable to buy.

“With demand as strong as it is and likely to remain, any landlords who lose their tenants as a result of the Help to Buy scheme should not have a problem re-letting their property”

“Help to Buy will not radically change the lettings market as there is still ongoing strong demand and a genuine shortage of properties but it will be positive for landlords who are in a position to invest. With improvements in the sales market, landlords are likely to feel more confident to invest in property and more properties will become available for investors to buy, resulting in a win-win situation for the lettings market overall.www.leaders.co.uk

Rising star Lauren
Brighton estate agents Callaways were shortlisted in three categories (Marketing, Land & New Homes and Rising Star) in the annual industry awards hosted by The Negotiator last month. 

Judged by a panel of successful industry professionals and well-respected Directors from NAEA, RICS, Property Drum and The Property Ombudsman, Lauren Wadey was privileged to be awarded Silver in The Rising Star category. This award focused on under 30’s demonstrating enthusiasm, innovation, implementation and leadership, who had proven themselves to be exceptionally successful within agency. Having nurtured the Block Management Department at Callaways and ensured its early prosperity, this accolade was testimony to the hard work and commitment Lauren and the team had invested in their latest venture.
www.callawaysestateagents.co.uk

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