Help to Buy in Reality: New Home for New Baby

When Agnieszka and Mirek Piasecki, both 39, found out they were expecting their first baby, they agreed that it was the right time to move from their one-bedroom rented apartment and shared garden to a house with more space and privacy.

Agnieszka and Mirke Piasecki and their baby sondaughter in their new two...Agnieszka and Mirek Piaseck with their new baby

 

They wanted a new house, so they wouldn’t have to spend time on maintenance, and a separate bedroom for their new baby. After a search the couple bought a two bedroom home at Dee Park in Reading, with a private garden.
Agnieszka, a deputy manager at Austin Reed and Mirek, a builder, chose Dee Park for its location, design value, the fact that carpets, flooring and kitchen appliances were included and because all the homes can be bought under Help to Buy scheme. It meant that they paid 80 per cent of the price, made up of a 5 per cent deposit and 75 per cent mortgage.

The figures
• Cost of house = £179,999
• Deposit = £9,000
• 20% Balance = £36,000 – This is the sum covered by the government-backed equity loan which is interest free for the first five years.
• Mortgage = £134,999.

Agnieszka and Mirek mortgage payments = £645 a month

This mortgage is less than the couple were paying in rent and the savings have enabled Agnieszka to take a year’s maternity leave to look after their new baby girl.
All the homes at Dee Park, a joint venture between, Willmott Dixon, and Catalyst Housing in partnership with Reading Council, can be bought under Help to Buy and the scheme is available to first time buyers and those moving from an existing home.