Help to Buy South has helped hundreds of people to purchase or rent their new home.  Here are just a few of the success stories:

Previous Shared Owners upsize family home using Help to Buy Equity Loan

Previous Shared Owners upsize family home using Help to Buy Equity Loan

As previous shared owners Trevor and Sacha wanted to upsize their family home, with the help of Help to Buy Equity Loan they've been able to buy a brand new 3-bedroom townhouse in a location that's prefect for them.

"We saw the national television advert for the Help to Buy Equity Loan scheme and as we wanted to upsize from a two-bed house to a three-bed house, for more space, we visited a nearby Taylor Wimpey site that interested us", explains Trevor.

The Help to Buy Equity Loan scheme enables purchasers to buy a new build property with a 5% deposit and borrow up to 20% of the value of the home from the Government as an interest-free loan*. You will need to be able to raise a 75% mortgage to cover the remaining cost of the home.

"Taylor Wimpey were very good, they helped us through every step and made it extremely easy for us", continues Sacha, "our house is everything we were looking for and more, we have three double sized bedrooms and a large kitchen/dining room which is my favourite in the house, it's beautiful".

Using a 20% Help to Buy Equity Loan, Trevor and Sacha's new home, valued at £187,000 was lowered to £149,600; they had a 5% deposit of £9,350 and then only required a 75% mortgage. "Needing a 5% deposit and only a 75% mortgage makes the monthly payments much more manageable than buying a property on the open market with a 90-95% mortgage".

"We've already been recommending the scheme to other people, especially younger people we know, everything has been perfect in buying our house and we wouldn't change a thing".

* The equity loan is interest free for the first five years, but in the 6th year of ownership, a fee of 1.75% of the equity loan based on the market value at the time you purchased is payable monthly, rising annually by the increase (if any) in the Retail Price Index (RPI) plus 1%. This is applicable if you have not paid back your equity loan by the end of year 5. An illustration will be given to you at the time of purchase.