Help to Buy scheme supports first-time homebuyers in Rugby

House-hunters in Rugby are now able to take advantage of the latest Help to Buy scheme at a new neighbourhood on the edge of the town.

The new version of the Government’s Help to Buy scheme – which is only available to first-time buyers – can be used to purchase a selection of two and three-bedroom houses at Bellway’s Houlton Meadows development, off Crick Road.

The scheme allows first-time buyers to purchase a new-build home with a five per cent deposit and a 75 per cent mortgage, with the remaining 20 per cent provided as an equity loan from the Government, interest free for the first five years of homeownership.

New homes bought with Help to Buy must be priced under the cap set for their region – in the West Midlands, this is £255,600.

Elaine Brown, Head of Sales for Bellway, said: “We have a choice of properties available with the new Help to Buy scheme at Houlton Meadows, meaning first-time buyers can get a helping hand towards homeownership here.

“Help to Buy is an incredibly useful scheme as people don’t have to spend so long saving up for a big deposit.

“In addition, the equity loan provided means they have a lower loan-to-value mortgage, making a wider range of deals available to them.”

The two-bedroom Ash, priced from £225,000, and the three-bedroom Cherry, priced from £255,000, are both semi-detached houses available with Help to Buy at Houlton Meadows.

The Ash has an open-plan living and dining room with French doors and a separate kitchen, while the Cherry features an open-plan kitchen and dining room opening to the garden and a living room to the front of the house. Upstairs, the Cherry has an en suite to the main bedroom.

Elaine said: “These house types are ideal for those taking their first step on the property ladder, with spacious interiors that give people space to work from home and relax after a busy day.

“Houlton Meadows is well-placed for first-time buyers with a range of amenities on the doorstep in this new village community. Areas of green open space, a nature reserve and woodland are also being provided for the enjoyment of residents.

“Rugby town centre is just over three miles away and the M1, M6 and M40 are all within easy reach for those travelling further afield.”

For more information about the new homes available with Help to Buy at Houlton Meadows, visit bellway.co.uk, or call the sales team on 01788 851452.