Help to Buy Hertfordshire

Help to Buy is an amazing way to get on the ladder when you have smaller savings than is require for the average house purchase. It’s a brilliant scheme designed to get more young people on the ladder easier than ever before.

Please see the below guide on using the scheme in Hertfordshire and do get in touch for more information or to have one of our advisors help you through the application.

Help to Buy 2021 – an Introduction

In April 2021 the Help to Buy Scheme changed slightly and is now only open to first time buyers. Where before anyone could take advantage of the government equity loan, it’s now only available if you don’t already own a property. A

The Help to Buy Equity Loan is where the government lends you 20% of the property price, interest free for a period, in order to supplement your deposit. This means you can buy a property with just 5% of the house price value saved!

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 Hertfordshire, you can purchase using Help to Buy up to a value of £407,400 in the East of England.

Why buy in Hertfordshire

Hertfordshire is the beautiful county just north of London and boasts incredible natural beauty as well as lively cities and towns. It consistently ranks in the top five best places to live in the UK and it’s not hard to see why.

Just a stones throw from the capital you get all the cultural benefits of living close to London without the hefty price tag or the constant traffic! The larger cities in the county, St Albans and Herpenden are known for their brilliant schools, close knit communities and lush parks. Plus you’re just 20mins from Central London.

Get a little further out and you can experience all the benefits of the countryside in it’s beautiful market towns and rolling fields. If it’s not already, Hertfordshire really should be top of your list for house hunting.

What does this actually mean for your pocket?

Yes, the Help to Buy price cap is £407,400 in the East of England but everytime you buy a house you will still have to be assessed on your income in order to get a mortgage. To reach the maximum price for a Help to Buy property in Hertfordshire you’d need to qualify for a mortgage of up to £305,550.

Is that enough to get your dream property? According to the latest figures from Zoopla, the average house price in Hemel Hempstead, for example, is just over £400k so this will get you well on your way! With all the incredible opportunities and the beautiful surroundings, Help to Buy Hertfordshire is a brilliant opportunity for any first time buyer to get on the ladder.

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, it’s important to remember that not all developers qualify for the government Help to Buy scheme. Sometimes, finding out which properties and which developments are part of the scheme can be mind boggling as they aren’t all listed through the government websites.

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.