A Nantwich property boss has backed the Government’s Help to Buy scheme after new figures showed rising completions in Cheshire East.
Nearly 400 homes in Cheshire have been bought through the equity loan scheme launched 11 months ago, according to the latest statistics.
This includes 94 in the Cheshire East area, covering Nantwich and Crewe.
Under the initiative, the government lends up to 20% of the cost of new-build homes, so people only need a 5% cash deposit and a 75% mortgage to make up the rest.
Wesley Heraty, of Nantwich-based Location Location property services, said: “Help to buy is a positive step in getting the property market moving and has already shown improvement in this area.
“Local developments seem to be selling well and quickly and the added supply should bring benefits to the rental sector over time too.
“This will be well received by letting agents who have been struggling to cope with demand due to short supply of good rental properties in the area.”
Across the country, 28,000 households are buying newly-built homes through the scheme, with 16,465 sales completed so far.
Housing Minister Kris Hopkins said: “Help to Buy was introduced for the benefit of the whole country, because this government is determined to ensure that anyone who works hard and wants to buy their own home should have the chance to do so.
“So I’m really pleased to see how people are voting with their feet and using the Help to Buy: Equity Loan to get a foothold on the property ladder.
“The scheme has proved itself a valuable alternative to the Bank of Mum and Dad, and since each home sold is new-build, the Equity Loan is also getting the country building again and creating exciting and rewarding career opportunities for local people.”
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