Help to Buy allows Megan and Ian to purchase their forever Devon home
01 December 2017
Megan Armstrong says her family's dreams have come true with the support of Bovis Homes and the Government-backed Help to Buy scheme.
Megan, a child care assessor, and her partner Ian, a scaffolder, are delighted to have purchased a brand new Salisbury house type at Williams Gate in Bovey Tracey, Devon.
Megan, mum of five-year-old Daisy, said the Bovis Homes sales team at Williams Gate had made the process of successfully applying to the Help to Buy scheme easy to follow at every step.
"We thought the house was lovely when we first saw it, but the prospect of owning it felt like a pipedream," explained Megan, whose second child is due in the spring.
"However, the sales team at Bovis Homes were extremely helpful and explained how the Help to Buy scheme could provide the financial assistance that we required, and how they could help us along the way.
"We all got quite emotional when we realised that we would be eligible and that we would soon have a brand new home of our own.
"The scheme has been a real godsend to us and, I'm sure, many more families like us."
The Help to Buy: Equity Loan is a Government-backed scheme exclusive to new-build homes.
Under the current scheme, the Government provides an equity loan of up to 20 per cent of the value of the property, interest-free for the first five years.
With the house buyer needing just a five a per cent cash deposit, it means they need only to secure up to a 75 per cent mortgage and can benefit from more competitive lending rates.
The scheme is available for first-time buyers and existing homeowners alike, on new homes up to a maximum purchase price of £600,000.
An extension to the scheme is expected to be announced by Chancellor Philip Hammond in his Autumn Budget on November 22.
Megan said The Salisbury, a spacious detached property with four bedrooms, was the ideal home for her growing family.
"We're not going to outgrow our new home - that's the nicest thing about it," said Megan. "We enjoy living in Bovey Tracey and now we're set here for life."
For more information about the Help to Buy scheme and Bovis Homes' locations, visit www.bovishomes.co.uk.