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Stockton housebuilder hails Help to Buy scheme

A leading developer has praised the success of the Government-backed Help to Buy scheme as it helps scores of people buy their first home.

Persimmon Homes Teesside revealed that many of those who took up Help to Buy at its Meadowbrook development in Ingleby Barwick were first-time buyers, who had feared they would never raise a large enough deposit to get them on the property ladder.

Under the scheme, people buying a new-build home only need a five per cent deposit along with a 75 per cent mortgage while the Government supplies a 20 per cent equity loan, which is interest and repayment free for the first five years.

“There’s no doubt that Help to Buy has been a resounding success so far, we’re getting people on to the housing ladder and helping them to achieve their dream of owning a brand new home,” commented Joan Peart, head of sales for Persimmon Homes Teesside.

“Significantly, the scheme has opened the doors for first-time buyers desperate to buy their own home and live somewhere that is truly theirs.

“Help to Buy has boosted the confidence for all builders and as more new homes go up it is helping to bridge the gap between supply and demand, as well as creating significant employment opportunities and economic growth in the county.”

Persimmon Homes Teesside is creating 477 homes at Meadowbrook located in The Rings, Ingleby Barwick, Stockton-on-Tees. Properties at the site have been in demand with sales managers reporting a large amount of interest from house hunters.

Meadowbrook’s, location close to the River Tees, Durham Tees Valley International Airport and Durham University, has made it an attractive location to purchase.

Prices start from £116,950.

The sales office is open from Thursday to Monday, 11am-6pm, or call 01642 769378.

This was posted in Bdaily's Members' News section by Lee Southen .