The UK government has announced this that a new ‘Help to Buy’ scheme aimed at getting First Time Buyers on the property ladder will be launching next month.
Homes England has revealed that applications for the Help to Buy: Equity Loan scheme – which sees the government lend up to 20% (40% in London) of the cost of your newly-built home – will open on Wednesday 16th December.
First Time Buyers will be able to apply for new build homes, and it will cover the period of 2021 – 2023.
Those ready to get their foot in the housing market will need to provide a deposit of at least 5%, and the mortgage offer must be to the value of 25% or higher in order to make up the remaining amount.
No interest will be charged on the 20% loan for the first five years of owning the home.
ADVERTISEMENT
There are also a number of eligibility requirements for the house, which states that it must be newly-built and can cost up to £600,000, and it’s also required that applicants can provide proof of the ability to afford the monthly fee and interest payments.
They must also not own any other properties, and are not permitted to sublet or rent out the property after purchasing it.
Homes can be reserved using the scheme from mid-December, allowing purchasers to collect the keys to move in to their new property from 1st April 2021.
The Help to Buy: Equity Loan scheme is due to end on 31st March 2023.
Speaking about the new scheme, Robert Jenrick – Secretary of State for Housing, Communities and Local Government – said: “The government is providing more ways to help families onto the housing ladder, and provide that life-changing moment when you get the keys to your own home.
ADVERTISEMENT
“Alongside First Homes, Shared Ownership and our £12bn investment in affordable housing, our new Help to Buy scheme will help thousands more families take their first step into a home of their own.”
Homebuyers can apply for a Help to Buy: Equity Loan (2021-2023) from 16 December 2020, with a homebuilder registered for the scheme. pic.twitter.com/IcTPzE78VX
Will German – Director of Help to Buy at Homes England – added: “Help to Buy has already helped more than 270,000 people into homeownership and 82% are first-time buyers. We’re pleased we can help homebuyers with smaller deposits to own a home, at a time when there are fewer options open to them.
“Housing, like most sectors, has experienced a slowdown during the COVID crisis, but Help to Buy continues to give homebuilders the confidence to keep on building at a more crucial time than ever.”
Those planning on utilising the Help to Buy: Equity Loan scheme are encouraged to note that Homes England will then have an entitlement to any proceeds in the future sale of the home, and will seek to take the same percentage of the profits as what it originally put in.
You can find more information about the Help to Buy: Equity Loan scheme via the gov.uk website here.
Trending
Morrisons has launched a nationwide search for its first-ever Chief Doughnut Tester
Emily Sergeant
Today is National Doughnut Day, and to celebrate, Morrisons is on the look-out for one sweet treat fan to take on a new role.
That’s right – today (5 June) is National Doughnut Day, and Morrisons is officially on the hunt for the nation’s ultimate doughnut devotee with the launch of its brand-new (and delicious) role, The Chief Doughnut Tester – with all glaze enthusiasts, sprinkle connoisseurs, and jam-filled aficionados urged to get applying.
The search is on to crown one lucky fan who’ll take on the dream job of taste-testing their way through the supermarket‘s range of doughnuts.
The Chief Doughnut Tester is more than just a title, Morrisons says it’s ‘serious business’.
Morrisons has launched a nationwide search for its first-ever Chief Doughnut Tester / Credit: Morrisons
The new hire will be tasked with taste-testing doughnuts before they hit the shelves, giving verdicts on new flavours and textures, all in the name of research.
The role will also involve teaming up with Morrisons’ internal doughnut-expert team to develop new and limited-edition treats that’ll be in stores next year.
Crowned as the nation’s definitive doughnut authority, the selected winner won’t just earn the title of Chief Doughnut Tester, they’ll also receive the ultimate of sweet perks – a year’s free supply of Morrisons fresh doughnuts, which the retailer sells more than 1.1 million of weekly.
Aspiring Chief Doughnut Testers can apply on the Morrisons website here, by filling in a short 200-words about why’re the ideal candidate.
Applications close at midnight tonight (Friday 5 June), so you’ll need to be quick.
Featured Image – Annie Spratt (via Unsplash)
Trending
First-ever JD Wetherspoon pub to open at Manchester Airport
Danny Jones
In news that we feel many Mancs and travellers all-round have been waiting on for a long time, the well-known British chain, JD Wetherspoon, will be opening its first-ever pub at Manchester Airport.
That’s right: soon that first airport pint of the holiday could actually be a relatively cheap one.
While Wetherspoons are no strangers to popping up in terminals across the UK and Ireland, they’ve never done so here in Manchester despite having three, yes THREE, in Gatwick alone.
Not for much longer, though, as soon T2 will be lending more than 3,000 square feet of its prime leisure and retail real estate to a new Greater Manchester ‘Spoons’.
Posting on social media, the airport wrote: “Wetherspoon comes to Manchester Airport this September! The pub will be located in the Terminal 2 Departures lounge and will have more than 300 seats.
“This will become the final major food and drink venue to open its doors as part of our decade-long £1.3bn transformation of Terminal 2. It will be named ‘The Belle Vue’, in a nod to Manchester’s historic showground [now a sports complex and leisure hub].
“It was a focal point for social life in the city from the Victorian period up until 2020, when the final event was held at Belle Vue stadium. The design of the pub is inspired by the history of Belle Vue and the sporting culture of the North West of England. We look forward to welcoming you all in September!”
While a lot of money has been pumped into T2’s refurb as a whole over the past few years, it remains unclear just how much this particular new addition will cost; we do know that great sums were set aside for the launch of the Great Northern Market last year.
The inaugural Manchester Airport Spoons is just the latest in a series of major renovations.
As mentioned, the company already operate several up and down the country – 10 airport pubs, to be specific – but this will be the first in the North West.
Speaking on the news, JD Wetherspoon chief executive John Hutson said in a statement: “We are looking forward to opening at Manchester Airport. We believe our new pub will prove popular with travellers of all ages and be an asset to the new terminal.”
With Manchester Airport adding a dozen new routes to its roster this summer, you can expect to see even more people flying in and out than ever – no doubt having already polished off a cut-price pint or two beforehand.
Emily Sergeant -
19th November 2020 
