Date: Thursday 26 December 2013
Frustrated parents can help their grown up children move out into a brand new Taylor Wimpey home.
Research by the National Housing Federation shows that three out of 10 parents have at least one adult child, aged between 21 and 40, still living with them at home – with 66% of those parents saying this is because their son or daughter cannot afford to rent or buy a home of their own.
But parents can get their independence back – and their children can enjoy a superb new lifestyle in a brand new, modern home of their own – at Taylor Wimpey developments across the country.
Kevin Belsham, UK Sales and Marketing Director for Taylor Wimpey, says: “This situation can be stressful for parents and children alike – the parents are eager to get their own space back while the children are stuck back in their childhood bedrooms, longing for their own independence – but because of the cost, everyone is forced to live at home together.
“Thankfully, grown up children can get the big break they need to have a home of their own at our superb developments across the UK.
“The Government’s Help to Buy equity loan scheme means that buyers can purchase their new home by securing a Goverment loan for 20% of its full price – meaning they only require a 75% loan-to-value mortgage and a 5% deposit – so it is cost-effective for parents and children alike.
“Parents can look forward to waving goodbye to their offspring and getting their home and freedom back in no time, while their children can enjoy a home they can finally call their own.”
Help to Buy is available on new-build homes up to the value of £600,000 (£400,000 in Scotland and £300,000 in Wales). There is no salary cap for purchasers taking advantage of the scheme.
Between April and September, 5,375 properties were bought using Help to Buy according to Government figures – with first time buyers, many escaping the family home, accounting for 92% of those purchases.