Developer praises Help to buy
by James Wood Tue 23 September 2014, 4:21 pm
The developer Countryside Maritime has credited the government’s Help to Buy scheme with allowing people in their twenties onto the property ladder.
Research by Move with Us found that Help to Buy is most popular with people aged between 20 and 29. The developer said that first time buyers moving into its Victory Apartments scheme in Fishing Village, St Mary’s Island backed up these findings. Seven of the 17 apartments at The Fishing Village were purchased through Help to Buy, which would require a £7,375 deposit and a mortgage for £110,625, with a government loan providing the remaining 20%.
Tony Travers, director of Countryside Maritime, said: “The Help to Buy scheme has helped a significant number of first time buyers to get on the property ladder and move into their own home.
“At The Fishing Village, we’ve seen buyers using the scheme to buy a property, [as well as] those buying a bigger home than they might have done otherwise, with the intention of staying in their property for many years to come.”
The island community forms part of Chatham Maritime, the regeneration scheme being built on part of the Historic Naval Dockyard, which includes a doctor’s surgery, community centre and primary school, as well as a network of cycle and footpaths around the island.