A Government initiative is helping thousands of families in Gloucester get on to the housing ladder or move to a larger home, according to a new study.

Figures released by the Government reveal that a total of 1,776 homebuyers in Gloucestershire have used the Help to Buy scheme since it was launched in April 2013, with 81 per cent of these being first-time buyers.

In South Gloucestershire, more than 100 people took advantage of the scheme in the final three months of 2016, taking the county past the 1,000th mark.

South West housebuilder Barratt Homes is encouraging homebuyers throughout Gloucestershire to take part in the popular scheme, which has already helped tens of thousands of people across the country to buy a brand new home.

The scheme enables anyone, both first-time buyers and existing owners, to put down five per cent as a deposit for their new home and to take advantage of a Government equity loan providing access to more affordable mortgage rates.

Andrea Pilgrim, sales director for Barratt Homes, said: "Gloucestershire has produced some strong results for the Help to Buy scheme and it is great to see the districts achieving such high figures for the scheme in the county.

"Help to Buy has proved so helpful to so many homebuyers and we would encourage anyone looking to buy a home with lower upfront costs to get in touch."

Help to Buy allows any homebuyer to secure a brand new home under the value of £600,000 with a five per cent deposit.

The Government lends the buyer 20 per cent of the value of the property in the form of an interest free equity loan for five years, meaning that buyers then gain access to some of the great mortgage rates currently available with just a 75 per cent mortgage.

Available to all homebuyers, not just first-timers, the scheme helps anyone looking for a boost up the property ladder.

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