Taylor Wimpey has seen an increase in visitor levels and new home reservations in 2013 across the Midlands as buyers take advantage of Help to Buy.

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  • The Government's Help to Buy shared equity incentive enables first time buyers and those with a property to sell to purchase a new build home for 80 per cent of its full price, including a deposit as low as 5 per cent.

    It comes as new figures reveal mortgage deals are now at their most affordable level in 14 years. The research by Halifax reveals mortgage payments currently account for just 27 per cent of a new borrower's income - the lowest level since 1999.

    Anne Wallace, regional sales and marketing director for Taylor Wimpey, said: "The Help to Buy initiative has been welcome news for both first time buyers and existing homeowners, and we are seeing evidence of that in the number of customers visiting our developments across the Midlands.

    "Help to Buy is giving people looking to get onto or move up the property ladder a helping hand by enabling them to secure their new home with a smaller deposit than they would otherwise need. The 75 per cent loan-to-value mortgage means their monthly mortgage payments are more affordable, too."

    Under Help to Buy, purchasers receive a Government loan of up to 20 per cent on new build properties up to the value of £600,000. There is no salary cap for homebuyers taking advantage of the scheme.

    Paul Taylor and his partner Brittanie Sheppard were able to buy their new home at Taylor Wimpey's Silver Waters development in Brownhills, West Midlands, thanks to Help to Buy.

    Taylor (29) said: "We didn't think we would be able to afford to buy a house - not many people have a spare £25,000 or £30,000 lying around for a deposit. But thanks to Help to Buy we have been able to buy our first property together."

    Existing homeowner Lauren Manners was also able to use Help to Buy to secure her ideal home at the leading house builder's Swallows Nest development in Coventry when she and her daughter Frankie moved in with her partner Calum Boulton.

    Manners (28) explained: "We couldn't have bought our new property without Help To Buy. We were looking at three bedroom houses but because we sometimes have Calum's son Ben staying with us, they were too small. We were going to walk away but then we found out we could afford a four bedroom house at Swallows Nest with Help To Buy."

    The Help to Buy scheme is available at the following Taylor Wimpey developments across the region:

    Aspenwood, Dickens Heath

    Beaumont Meadow, Warwick

    Diglis Water, Worcester

    Highfield Gardens, Edgbaston

    Jasmine Gardens, Wychbold

    Jubilee Gardens, Walsall

    Lavender Fields, Evesham

    Lawley Farm, Telford

    Lucet Meadow, Redditch

    Monmore Gardens, Wolverhampton

    Mulberry Gardens, Meriden

    Silver Waters, Brownhills

    Swallows Nest, Coventry

    Warwick Chase, Warwick

    White Willow Park, Coventry

    Willmott Meadow, Wem

    Woodall Grange, Dudley

    Some information contained herein may have changed since it was first published. SmartNewHomes strongly advises you to seek current legal and/or financial advice from a qualified professional. 

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