Take the first step

Louise Highton


It’s estimated that 3.9 million people in the UK are living in privately rented accommodation, with just over half of those under the age of 34.

However, the Help to Buy equity loan is helping lower that figure with just a 5% deposit required on new builds across the country for people using the scheme.

Louise Highton, 26 bought her three-bed home in York in May, just a year after finishing university, with the low deposit enabling her to take her first steps on the property ladder.

We visited Louise at her home to chat about her Help to Buy experience.

"I finished my PHD at the University of York last year and got a job straight after. I thought that as I'm going to be here permanently, it makes sense to look at buying a house rather than renting."

"We didn't start looking straight away, we had a good look online and saw the type of house that we could get with the amount we had saved up.”

"We were fine renting, although it just felt like a waste of money as we were giving away our money to pay for somebody else's mortgage." 

The development that caught Louise’s eye was the Derwenthorpe development from David Wilson Homes.

With its contemporary European design, its incredible eco features and its wonderful location, the development is quickly becoming one of the most sought after areas to live in York.

And Louise admits that as soon as she went round the show homes, that this was the one for her.

“We originally looked at the Chocolate Factory development, also from David Wilson but saw that it wouldn't be completed for quite a while. We then saw Derwenthorpe and knew straight away that this was the one that we wanted." 

"The development is in a really good location and for the amount of house that you get, the prices were really good. We'd always liked the idea of buying a new build so it ticked all the boxes!" 

With Louise’s heart set on one of the new build homes, the Help to Buy scheme was perfect for her with only a 5% deposit and 75% mortgage required.

"We first heard about Help to Buy on the news and because the scheme is only on new builds, it suited us perfectly. When we met the sales advisers here at the site, they put us in touch with all the relevant people to get it explained. After we'd had it explained, they put us in touch with a mortgage adviser and he did the rest." 

"We were a little dubious at first and had to work out whether it made sense in the long run, however even 80% of this home is more than we could of afforded if we hadn't used the scheme." 

"The whole process was really simple. They put us in touch with a mortgage adviser and he did almost everything for us. We had a meeting with him, gave him all the relevant documents and paperwork and he sorted it all out for us." 

Louise moved into her home earlier this year aided by the Help to Buy equity loan and recommends that people in a similar position do the same.

"We finally moved in May this year and luckily the move was pretty stress free. We had a few problems putting up curtains on the first day but once it was just moving boxes, everything was fine!" 

"I'd definitely recommend Help to Buy to people in a similar position. You can get a much bigger house for your money with such a small deposit!"

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