Help to Buy scheme to support first-time buyers in Shrewsbury

House-hunters in Shrewsbury are now able to take advantage of the latest Help to Buy scheme at two developments in the town.

A computer-generated image of the three-bedroom Cherry house type, available at Bellway’s The Spinney
A computer-generated image of the three-bedroom Cherry house type, available at Bellway’s The Spinney

The revised Government Help to Buy scheme – which is now only available to first-time buyers – can be used at Bellway’s The Spinney development, off Oteley Road, and Copthorne Keep, off Copthorne Road.

The updated initiative allows first-time buyers to purchase a new-build home with a five per cent deposit and a 75 per cent mortgage, with the remaining 20 per cent provided as an equity loan from the Government, which is interest free for the first five years of home ownership.

New homes eligible to be purchased through the scheme must be priced under the cap set for their region – in the West Midlands, this regional price cap is £255,600.

Bellway West Midlands sales director, Marie Richards, said: “For first-time buyers in Shrewsbury, the Help to Buy scheme is a great opportunity to get help on to the first rung of the property ladder.

“The scheme means they require a smaller deposit than they would otherwise have needed to save – and, with a lower loan-to-value mortgage, there’s a wider range of mortgage deals available.”

'Thriving communities'

At The Spinney, the three-bedroom semi-detached Cherry, priced from £231,284, can be purchased by first-time buyers using the Help to Buy scheme, while at Copthorne Keep, the two-bedroom Joiner is available with the scheme, priced from £228,995.

Marie said: “Both the Cherry and the Joiner are high-quality homes which are particularly popular with first-time buyers.

“Residents at The Spinney or Copthorne Keep will join thriving new communities and can also benefit from Shrewsbury’s many facilities and convenient location, close to the A5 and M54.

“With these new homes selling quickly, I would encourage anyone who is interested in finding a new home here to get in touch with the sales team to find out more.”

More information on the new homes can be found at bellway.co.uk or by contacting the sales team at The Spinney on 01743 404678, or at Copthorne Keep on 01743 403693.

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