Help to Buy Manchester
Help to Buy 2021 – everything you need to know about the scheme and how you can buy a home with Help to Buy in Manchester.
Get yourself on the ladder and into your dream home with Help to Buy Manchester.
Applying for Help to Buy can be a bit complicated, but here at mypropertyadvice.com we are here to help you through the process and realise the ambition of being a homeowner. Book in with our advisors to guide you through the process step-by-step so you get your ideal home, easily and stress free.
Help to Buy 2021 – an Introduction
Applications for the new 2021 scheme are now open. There have been a few changes to the Help to Buy equity loan scheme that it is worth noting so we’ve outlined them below.
From now on, the Help to Buy 2021 scheme is now only available for first-time buyers. Previously the scheme was open to everyone buying a new-build to buy using the scheme, but the government has decided to restrict the new update to those who do not yet own a property.
Another change is the new regional price limits where buyers will only be able to use the scheme up to a set price depending on where they are buying. As this guide focuses on Manchester, you can purchase using Help to Buy up to a value of £224,400
Why Manchester?
Manchester is the largest corporate banking and stockbroking centre outside London, accounting for 7% of all financial service output in the UK. But the city has so much more to offer. Known for its incredible music scene, Manchester has also firmly put itself on the map for its vibrant and experimental restaurants and progressive arts and culture.
It has all the benefits of the big city but with strong local community ties so it’s the perfect spot for young first time buyers to set down roots. In addition to the booming industry and abundance of job opportunities, as the working world becomes more comfortable with remote working, the super fast ties to London and the surrounding northern cities means many are relocating their home without changing job.
What does this actually mean for your pocket?
Yes, the Help to Buy price cap is £224,400 in the North West but the mortgage will still be assessed based on your income so you’ll still need to earn enough to borrow, in this case, up to £168,300.
Is that enough to get your dream property? According to the latest figures from Zoopla, the average house price in Manchester is just over £200k so this will get you well on your way! With all the incredible opportunities and beautiful new builds going up in the city, you’ll be spoilt for choice!
Buying a new build home is slightly different from buying a house from someone else – to find out exactly what it means you can read our New Homes Guide here
But how do you find Help to Buy Properties in Manchester?
So, not all housebuilders qualify to sell through the Help to Buy scheme, it’s only open to those who qualify. So finding out which properties and which developments are part of the scheme can be mind boggling. Not all are listed through the government websites and there is clearly a lack of information on the subject.
Buying a new build home is slightly different from buying a house from someone else – to find out exactly what it means you can read our New Homes Guide here
At mypropertyadvice.com we navigate through the Help to Buy market to provide you with impartial advice on the best properties available to you in your area. For a free call for some initial advice, contact us below.
