Scientists Kaivalya and Lovinia Kulkarni were buying a pre-owned three-bedroom house in Wolverhampton and had already started paying out fees when it was taken off the market. The couple then looked to a new build and bought a four-bedroom house at Bellway’s The Alders development in Gatis Street, Wolverhampton using Help to Buy.
The Kulkarni’s in their new home.
Kaivalya, an associate practitioner at Imperial College in London, and Lovina, a research scientist were able to buy a larger house than they otherwise would have been able to because Help to Buy was available. Kaivalya said: “Help to Buy means we’ve now bought a four-bedroom detached house rather than a three-bedroom house, which is what we were looking to buy before.
House price = £205,950.
Deposit = £10,298
Mortgage = £154,462.
Balance = £41,190. This is covered by a five year interest free equity loan backed by the Government under the help to buy scheme.
Three-bedroom homes start from £138,995 at The Alders and four bedrooms start at £205,950.