Morris Homes has revealed that more than a third of all of its homes are now being reserved by buyers using Help to Buy.
The initiative, launched by the Government in April this year, provides assistance to buyers who would otherwise struggle to raise the average £26,956 deposit* towards a home.
To keep up with demand, Morris has released a new selection of homes ahead of schedule at its Waterside Village development in St Helens for buyers keen to use the initiative.
Help to Buy is available on new homes, with only 5 per cent of the value of the property needed as a deposit. A further 20 per cent of the deposit is provided by the Government in the form of a loan which is interest free for five years.
A combined deposit of 25 per cent means that buyers are in a better position to secure a wider range of mortgages with lower monthly payments.
Chris Minshall, sales director for Morris, said: “Help to Buy is a rare opportunity to receive extra assistance, and is only currently available on new homes.
“Since the scheme launched in April we’ve seen unprecedented demand across all of our sites, to the point where we are ahead of schedule on many of our developments.
“Help to Buy will be available until 2016, or until the funding set aside by the Government runs out, so it is worth finding out more about how it can help you before it’s too late.”
Morris has unveiled a video on its website to explain more about who the initiative can help and how the process works.
A wide range of homes are available for sale at Waterside Village, from two-bedroom apartments to four-bedroom detached homes.
For more information about Waterside Village call 01744 833 820, visit Lowfield Lane, Lea Green, WA9 5BE, or go to www.morrishomes.co.uk