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Budget: help for home buyers

Tina Dedman
Tina Dedman

Budget measures to help people get on the property ladder have been welcomed by developers in Kent.

The Help-To-Buy scheme allows buyers to put down a 5% deposit on a newly built home, much less than some banks now demand.

They will also be eligible for a government loan of up to 20% of the property value, which is interest free for the first five years. It expands a previous scheme, FirstBuy, which was aimed at first-time buyers.

Borrowers will be able to apply from the start of April.

Sevenoaks-based Tina Dedman, sales & marketing director of Berkeley Homes said: “The new Help to Buy scheme announced in the Budget will be welcome news to so many people who are struggling to raise a large enough deposit to be able to buy a new home.

"This new scheme will not only hopefully help to overcome the main hurdle of raising a 20% deposit, faced by so many, but also ultimately help to reduce their day to day living costs too."

Berkeley Homes are building at Sevenoaks, Holborough Lakes in Snodland, and Kingsbrook Park in Canterbury.

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