Help to Buy proving popular at Marham Park

The government’s Help to Buy scheme has proven to be extremely popular at a housing development in Bury St Edmunds, with more than half of its buyers using the initiative to purchase a new home.

Of the 50 buyers at Bloor Homes’ Marham Park development, 28 have bought a home using Help to Buy. 
The scheme enables buyers to purchase a home with a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is then paid off as an equity loan, which remains interest-free for five years. 
Bloor Homes is building 151 new homes at Marham Park, of which 45 will be provided as affordable housing.
Monika Hanlon, Regional Sales Director at Bloor Homes Eastern, said: “Since its introduction in 2013, Help to Buy has enabled thousands of buyers throughout the UK to fulfil their dreams of purchasing a new home.
“The scheme has been an integral part of our sales so far at Marham Park as it unlocks a lot of housing opportunities for buyers who might have previously struggled for a deposit. 
“All our homes at Marham Park can be purchased with Help to Buy, so we anticipate that it will continue to be a popular way to move to our developments across the region.”
Marham Park is part of a wider housing consortium, which will eventually comprise an estimated 1,100 new homes, a new primary school, local centre with retail and heath provision, leisure facilities and allotments in Bury St Edmunds, 
A selection of two, three and four-bedroom homes is available to purchase at Marham Park, off Mildenhall Road, with prices starting from £324,995.
For more information about the Help to Buy scheme, call the sales team on 01284 847903 or visit www.bloorhomes.com