Help to Buy in Reality: The Cuckoos Fly the Nest

Newlyweds, Georgina and James Witchalls-Bolton, were able to purchase a two-bedroom apartment at Dee Park, Reading, with just a five per cent deposit using the Help to Buy scheme.


The couple, both 24, did not think they would be able to move into a brand new apartment and were concerned about being able to pay rent on a property; they also needed someone in a suitable location for landscaper James to access his varied working locations.

The figures

Cost of Home                         = £159,995;

5% Deposit                             = £8,000 paid by Georgina and James

Mortgage                                 = £120,000

Balance                                   = £32,000 paid as interest free five year interest free equity loan from Government

For James and Georgina the Help to Buy scheme allowed them to move out of their parent’s home into their own place.  “Without Help to Buy, we’d have had to wait a very long time to be able to save a deposit, even though we are both in full-time work,” said Georgina, who works in customer service for a finance company. “The scheme allowed us to avoid paying sky-high rent”

The project is led by Dee Park Partnership, a joint venture between Willmott Dixon and Catalyst Housing, in partnership with Reading Borough Council.