The government’s recently announced NewBuy Guarantee scheme could make a big difference to first time buyers in Cornwall, according to Coodes, a long established firm of solicitors with seven branches in Cornwall and Devon.
The scheme will allow first-time home buyers and existing homeowners who want to move house to buy a new-build home with a deposit of only five or ten per cent.
It is anticipated up to 100,000 buyers could benefit from the scheme nationwide and an estimated 50,000 jobs in construction safeguarded as demand for new homes increases.
“That could be great news both for first time buyers and for the building industry in Cornwall,” said Alistair Whyte, Head of Property at Coodes.
The Home Builders Federation and the Council of Mortgage Lenders are behind the scheme which is available on flats and houses up to a maximum value of £500,000.
It is an extension of a package of measures unveiled last year aimed at kick-starting the housing market and to give the construction industry a boost.
Alistair Whyte said “We believe this scheme will make a real difference to people looking to buy a new home. A £10,000 deposit is far more achievable for most people and now that the scheme is also available for existing home owners, it will mean many more people could benefit.”
Coodes has a specialist team for first-time buyers and affordable housing and they will help clients understand the differences between all types of housing schemes. They make completion of the house purchase as efficient and stress-free as possible especially if clients use the fixed price service, which has a no move, no fee guarantee.
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