Why buy a new home

Why buy a new home

Below you will find information to help you weigh up between a new build property and an existing residential property.

Incentives for you as a new home buyer:

Help to buy

Buy your dream home with only a 5% deposit!

The Help to Buy – Equity Loan Scheme was recently relaunched on the 1st April 2021. It is a scheme limited to people who are classed as first time buyers, and includes regional property price limits, to ensure the scheme is beneficial to the people who need it the most.

The scheme will continue until March 2023, and as with the previous scheme homebuyers will be lent up to 20% of the cost of a newly built home.

Help to buy
Couple happy to move into their dream new home

Frequently asked questions about Help to Buy:

Who is the scheme for?
First-time homebuyers over the age of 18 years buying a home in England.

What is the Eligibility Criteria for the scheme?
To apply, you must be:

aged 18 or older
a first-time buyer
You cannot:

  • own a home or land anywhere in the world now or in the past
  • have had any form of sharia mortgage finance
  • own a home bought with other people or inherited
  • be married or in a co-habiting relationship, either now or on legal completion with anyone who owns or has owned a home or land anywhere in the world
  • buy a second home

If you’re married or in a co-habiting relationship, you’ll have to make a joint application with your spouse or civil partner and both live in the home having it as your only residence.

There are price limits on homes you can buy with an equity loan. The limit is different for each region in England.

Find out more about how the Help to Buy Scheme could help you purchase your new home, please call our Land & New Homes team on 01428 778278 or email newhomes@homesea.co.uk

Part Exchange

No need to stress over your move.

Selling your house can be a very stressful process with no certainty throughout the process. However, you could choose the part exchange option and sell your house quickly and remove a great deal of stress when buying a new home.

Assisted Move

If you have your heart set on a new build, but have to sell your own house first. Assisted Move could be a scheme to consider!

Some, not all developers will offer you expert advice and guidance to be able to sell your own home, so you can reserve your dream new home.

How does Assisted Move Work?

Once you have seen your perfect new home, we can inform you whether the developer will offer you an assisted move scheme on that particular development.

If assisted move is available we will require the developer will require a valuation on your property by Homes Estate Agents, taking into consideration a realistic sales value for you to find a buyer for your own property in a realistic timeframe.

If you agree with the valuation that you are given, the next step would be to reserve your new home and pay the reservation fee for that plot.

The developer that you are purchasing your new property through, will then instruct Homes Estate Agent to sell your existing property and achieve the best possible price for your home. The developer and Homes will deal with them directly and pay all the necessary fees – so there is no stress for when it comes to buying your new home!

Selected developers like to appoint their selected solicitor and mortgage brokers (subject to your agreement) to ensure the sale of your home, and purchasing your new home is dealt with correctly and in a realistic timeframe.

**Subject to terms & Conditions**

Please ask for more information, call our Land & New Homes team on 01428 778278 or email newhomes@homesea.co.uk