Helmshore couple are ‘totally sold’ on Help to Buy scheme

Sarah and Ryan’s dream

Sarah and Ryan’s dream

First published in News

A COUPLE have spoken of their delight at being able to buy the Helmshore home of their dreams through the Help to Buy scheme.

First-time buyers Sarah Sweetmore, and her partner Ryan, have taken their first step on the property ladder with Help to Buy through Taylor Wimpey.

The couple now live at the home builder’s Weavers Dene development, in Helmshore.

Sarah said: “We had been wanting to get on to the property ladder for quite some time, but knew that saving a deposit down the traditional route would have taken years. We visited Weavers Dene and instantly fell in love with the designs, so as soon as we were told about Help to Buy, we were completely sold.”

Help to Buy gives eligible buyers the chance to reserve a new home worth up to £600,000 with a five per cent deposit, using a government equity loan of up to 20per cent of the value of the property.

For more information about the homes at Weavers Dene, and Help to Buy, call 01706 390711, or visit www.taylorwimpey.co.uk

Comments (11)

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2:35pm Wed 21 May 14

Excluded again says...

I know the Lancashire Telegraph has stopped employing proper journalists.

But did it really not occur to anyone at the paper to query a piece of PR guff from Taylor Wimpey? Not even just the day after the Governor of the Bank of England raised concerns that the Help To Buy scheme was fueling a housing bubble putting the fragile economic recovery at risk? Clearly not.
I know the Lancashire Telegraph has stopped employing proper journalists. But did it really not occur to anyone at the paper to query a piece of PR guff from Taylor Wimpey? Not even just the day after the Governor of the Bank of England raised concerns that the Help To Buy scheme was fueling a housing bubble putting the fragile economic recovery at risk? Clearly not. Excluded again
  • Score: 9

5:07pm Wed 21 May 14

boynesider says...

is this really news?a couple buy a house,yipee!!! well done
is this really news?a couple buy a house,yipee!!! well done boynesider
  • Score: 3

6:53pm Wed 21 May 14

It's a spade! says...

Help to Buy!
That's right for those of you who can't be bothered to save up!
Want to still go on holiday?
Still want the iPhone 5 on Contract?
Need an iPad?
Got a new car on HP?
Don't want to live in a 2 bedroomed terrace?

Then Help to Buy is for you!!!

Get that 3/4/5 bedroom detached right now, no deposit required no commitment asked. Just borrow the deposit from the government. Can't pay it back? Don't worry some other mug will do it for you, we'll just write it off.

Why join the ladder at the bottom when you can get on it further up?

At least we won't be going back to the house price bubble anytime soon, especially after the last disaster!

Or, maybe not.
Help to Buy! That's right for those of you who can't be bothered to save up! Want to still go on holiday? Still want the iPhone 5 on Contract? Need an iPad? Got a new car on HP? Don't want to live in a 2 bedroomed terrace? Then Help to Buy is for you!!! Get that 3/4/5 bedroom detached right now, no deposit required no commitment asked. Just borrow the deposit from the government. Can't pay it back? Don't worry some other mug will do it for you, we'll just write it off. Why join the ladder at the bottom when you can get on it further up? At least we won't be going back to the house price bubble anytime soon, especially after the last disaster! Or, maybe not. It's a spade!
  • Score: 7

8:01pm Wed 21 May 14

Kevin, Colne says...

I wish this couple much happiness in their new home. This is a big purchase, and a big moment. I hope that they have many happy years together.

The views that follow are my honest opinion and the basis should be plain from the justifications that I provide.

I think that it was ill-advised of the Chancellor of the Exchequer to pledge sovereign credit as guarantor of private lenders. It is not the job of the state to permit private profits to lenders, while offering to subsidise their losses.

Professor Danny Dorling in his book All that is Solid: The Great Housing Disaster sets out the position thus:

It – Help to Buy – allowed up to a fifth of the mortgages of buyers of new-build properties to be provided by the government, thus ensuring that government, and hence we collectively, would take the first hit were the price of new-build housing to fall. Banks were then willing to lend mortgages when just a 5% deposit was put down, safe in the knowledge that they would not lose out even if prices fell by 25%: the government (i.e. all of us) would pay up instead. That these government loans are interest-free for the first five years adds to the collective hit taken by tax-payers. When buyers are let off paying interest, everyone else is paying to help private home-builders sell houses at higher prices than the market says they are worth; the subsidies, in effect, are causing people to buy their homes at inflated prices. Dorling, 2014, p.6-7.

And later Dorling opines:

… George Osborne’s new Help-to-Buy initiative in his March 2013 budget, guaranteeing loans on all property to cover falls of up to 20% of the current value – the value that the banks believe isn’t there. If the value was there, the banks would lend the money without the need for those guarantees. The government is covering the risk to the bank, not the risk to the buyer. The buyer is being encouraged to take a huge risk ... Dorling, p.234-35.

The problem that policy-makers now face is that they have lost control and cannot withdraw or curtail the Help-to-Buy scheme without precipitating a seizure in the market. They are in a cul-de-sac of their own making, while the Help-to-Buy steam-roller crushes the young into debt-servitude of a magnitude greater by far than would otherwise be the case.

These are stinging criticisms worthy of serious consideration and debate, in my view; but sadly they are not reported or discussed properly by the MSM, which once again is failing their readership in spectacular style.
I wish this couple much happiness in their new home. This is a big purchase, and a big moment. I hope that they have many happy years together. The views that follow are my honest opinion and the basis should be plain from the justifications that I provide. I think that it was ill-advised of the Chancellor of the Exchequer to pledge sovereign credit as guarantor of private lenders. It is not the job of the state to permit private profits to lenders, while offering to subsidise their losses. Professor Danny Dorling in his book All that is Solid: The Great Housing Disaster sets out the position thus: It – Help to Buy – allowed up to a fifth of the mortgages of buyers of new-build properties to be provided by the government, thus ensuring that government, and hence we collectively, would take the first hit were the price of new-build housing to fall. Banks were then willing to lend mortgages when just a 5% deposit was put down, safe in the knowledge that they would not lose out even if prices fell by 25%: the government (i.e. all of us) would pay up instead. That these government loans are interest-free for the first five years adds to the collective hit taken by tax-payers. When buyers are let off paying interest, everyone else is paying to help private home-builders sell houses at higher prices than the market says they are worth; the subsidies, in effect, are causing people to buy their homes at inflated prices. Dorling, 2014, p.6-7. And later Dorling opines: … George Osborne’s new Help-to-Buy initiative in his March 2013 budget, guaranteeing loans on all property to cover falls of up to 20% of the current value – the value that the banks believe isn’t there. If the value was there, the banks would lend the money without the need for those guarantees. The government is covering the risk to the bank, not the risk to the buyer. The buyer is being encouraged to take a huge risk ... Dorling, p.234-35. The problem that policy-makers now face is that they have lost control and cannot withdraw or curtail the Help-to-Buy scheme without precipitating a seizure in the market. They are in a cul-de-sac of their own making, while the Help-to-Buy steam-roller crushes the young into debt-servitude of a magnitude greater by far than would otherwise be the case. These are stinging criticisms worthy of serious consideration and debate, in my view; but sadly they are not reported or discussed properly by the MSM, which once again is failing their readership in spectacular style. Kevin, Colne
  • Score: 2

10:39pm Wed 21 May 14

wilddog says...

Must be on 1 hell of a wage between them then!
Must be on 1 hell of a wage between them then! wilddog
  • Score: 1

7:34am Thu 22 May 14

BuckoTheMoose says...

Just let us know if you need anything else, furnishings, a car, a holiday once you're settled in - The Taxpayer.
Just let us know if you need anything else, furnishings, a car, a holiday once you're settled in - The Taxpayer. BuckoTheMoose
  • Score: -2

9:00am Thu 22 May 14

ikap22 says...

wilddog wrote:
Must be on 1 hell of a wage between them then!
Unlike you they don't live on handouts.
[quote][p][bold]wilddog[/bold] wrote: Must be on 1 hell of a wage between them then![/p][/quote]Unlike you they don't live on handouts. ikap22
  • Score: 0

12:35pm Thu 22 May 14

HelmshoreMan2010 says...

"for those of you who can't be bothered to save up!"

Really?

I work 44 hours a week and I currently rent a house, after bills and cost of living I have £100 a month spare. That's without driving or going out at weekends, no pets and no kids. Help to buy needs just a 5% deposit, that means on a 100k house I need to save 5k even for the HtB scheme. That means I need to do literally nothing in my life for over 4 years to get on the HtB scheme.

I don't think we need to do the figures on a 20% deposit.
"for those of you who can't be bothered to save up!" Really? I work 44 hours a week and I currently rent a house, after bills and cost of living I have £100 a month spare. That's without driving or going out at weekends, no pets and no kids. Help to buy needs just a 5% deposit, that means on a 100k house I need to save 5k even for the HtB scheme. That means I need to do literally nothing in my life for over 4 years to get on the HtB scheme. I don't think we need to do the figures on a 20% deposit. HelmshoreMan2010
  • Score: 3

3:23am Fri 23 May 14

HelmshoreBoy says...

The houses at Weavers Dene are very nice functional houses, ideal for first time buyers, with a small family, situated in a very nice area with good neighbours. Whats the problem. If you can get a leg up and you can afford it, why not?Better to bring a family up in a good environment than some of the other s@@tho;es of East Lancashire!.

Crack on and good luck. Welcome to Helmshore even though MP Jake had his car stolen the other week!

Plenty of good schools and good shops too and the people are ok!
The houses at Weavers Dene are very nice functional houses, ideal for first time buyers, with a small family, situated in a very nice area with good neighbours. Whats the problem. If you can get a leg up and you can afford it, why not?Better to bring a family up in a good environment than some of the other s@@tho;es of East Lancashire!. Crack on and good luck. Welcome to Helmshore even though MP Jake had his car stolen the other week! Plenty of good schools and good shops too and the people are ok! HelmshoreBoy
  • Score: 4

3:30am Fri 23 May 14

HelmshoreBoy says...

Forgot to mention, these houses are only £160k. Hardly a small fortune for a new house. Affordable housing I would say.
Forgot to mention, these houses are only £160k. Hardly a small fortune for a new house. Affordable housing I would say. HelmshoreBoy
  • Score: -2

6:09pm Fri 23 May 14

TheReality says...

160k for a crappy cardboard new build house is affordable? On a 30 year mortgage with a standard current tracker that near £700 a month! Should interest rates increase god knows what it will end up at.

I am not saying help to buy is a bad thing. I never got the option of it I just bought within my means. Plenty of houses still going for very cheap prices, 30k and below. OK so maybe bad areas but if you don't like it then rent.

I see a lot of poor unsuspecting couples having their homes repossessed with this scheme and through no real fault of their own.
160k for a crappy cardboard new build house is affordable? On a 30 year mortgage with a standard current tracker that near £700 a month! Should interest rates increase god knows what it will end up at. I am not saying help to buy is a bad thing. I never got the option of it I just bought within my means. Plenty of houses still going for very cheap prices, 30k and below. OK so maybe bad areas but if you don't like it then rent. I see a lot of poor unsuspecting couples having their homes repossessed with this scheme and through no real fault of their own. TheReality
  • Score: 1

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