Aspiring homebuyers of Thirsk eager to own as 60 per cent of new development snapped up at launch

March 2017

Interest in new homes is high in and around Thirsk as aspiring first-time buyers turn to new housing in rising numbers,
according to Whitfield Homes. 
The Yorkshire-based housebuilder reported a good turnout to the launch of its latest development, Farefield Close in Dalton - with more than half of the 10 homes already sold.
On the day, prospective homebuyers benefited from a Help to Buy surgery which featured representatives from the Government’s homebuying scheme and mortgage advisors.  
Despite other regions reporting a housing market slowdown, with a shortage of supply and uncertainty keeping buyers at bay, North Yorkshire continues to boast a bustling housing marketplace. 
Director of Whitfield Homes, Mr Chris Patmore, said:
“Following the launch day, five homebuyers have now reserved a new property at Farefield Close with sales spurred on by the Help to Buy scheme.  Most of the buyers are from the local community, who were attracted by the appeal of moving to a new home wedded to being able to stay within the area and take advantage of the countryside and excellent transport links on the doorstep."
"We also have prospective buyers booked in for appointments with our recommended mortgage advisor. Our agent Linley & Simpson is assisting others to explore the Help to Buy scheme further and the benefits it brings.”
Help to Buy assists anyone looking to buy a home up to £600,000 as long as it is their sole home. With Help to Buy, aspiring homebuyers only need to raise a 5% deposit. 
Using Help to Buy, homebuyers can also take advantage of a 20% equity loan from the Government, which is interest-free for five years. Therefore a 75% mortgage is required for the value of the property. 
For example, using Help to Buy, homebuyers can purchase a two-bedroom home at Farefield Close for £165,000 using a 5% deposit of £8,250 and receive an equity loan of £33,000, leaving a mortgage of only £123,750. 

Mr Patmore added:

“The launch day at Farefield Close not only allowed us to raise the awareness of the work we are doing to meet the demand for housing in North Yorkshire, but the Help to Buy surgery opened the eyes of aspiring homebuyers to this option for breaking down barriers to homeownership.
Farefield Close features a range of two- to five-bedroomed properties. The homes will expand the housebuilder’s neighbouring development, Willow Bridge Lane, where properties are now all sold.