March 27, 2019
For prospective buyers, saving enough money for a deposit can make getting on the property ladder seem like an impossible dream.
Thankfully, the government’s Help to Buy scheme has made it easier to take the first steps towards home ownership with as little as a 5% deposit. The scheme allows you to take out an equity loan of 15% of the property value, meaning you need just a 5% deposit to buy your dream home. As the loan is interest-free for the first five years, you’ll also have lower mortgage repayments than you would with a standard mortgage arrangement.
Help to Buy is available for first- and second-time buyers, who do not currently own a property in or outside of the UK. You can purchase a new build home up to the value of £600,000 with the scheme, as long as it’s not intended to be used as a buy-to-let property.
There are lots of Help to Buy properties in Birmingham, so no matter where in the city you’re looking to purchase, you’re sure to find the perfect home for you.
To make your property search easier, we’ve put together a list of Help to Buy properties in Birmingham, broken down by area. Read on to find out which region will best suit your needs, and browse Help to Buy homes in Birmingham.
Birmingham city centre is undergoing a huge period of redevelopment, making it the perfect place to purchase a Help to Buy property if you’re looking to live in the thick of a bustling, modern city. The historic centre of Birmingham includes such up-and-coming areas as the Jewellery Quarter and Digbeth, as well as the Gun Quarter and Highgate, the home of the city’s original settlers.
Current Help to Buy properties available in Central Birmingham: None at the present time
Including attractive towns such as Tamworth, Alvecote and Mile Oak, the areas north east of Birmingham are the perfect choice for families and first-time buyers, thanks to good connections to the city centre whilst also benefiting from the close-knit community feel of countryside towns.
Buying a property in North West Birmingham offers the best of both worlds, combining beautiful, historic surroundings with easy travelling distances to the city centre. Popular locations in the North West include Smethwick, Oldbury and Tipton.
Current Help to Buy properties available in North West Birmingham: Galton Lock
South East Birmingham is a desirable area for those looking for leafy green spaces, gastropubs and large houses. Areas to look out for include Moseley and Wake Green.
South West Birmingham is the perfect choice for first-time buyers, with Help to Buy properties available in suburban areas like Redditch, Tidbury Green and Solihull.
Current Help to Buy properties available in South West Birmingham: The Oaks Apartments, Longbridge Place, Gilbert’s Lea, Norton Farm, The Oaks, Romans Walk
*All data accurate to October 2019, but may change at any time. Please check availability with the individual developments.
If you need advice for first-time buying in Birmingham – or if you’re looking for a reliable mortgage broker in the West Midlands – don’t hesitate to contact us today.
We’re experts on all things mortgage-related (and our services are always 100% free).
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