SO what’s the difference between help to buy, right to buy, shared ownership, shared equity, new buy, first steps? If you are a first time buyer it can be confusing to navigate the myriad funding schemes that are available to find the right one for you. Maxine Conway, homes sales director for the Midlands region of Keepmoat, explains how the process is easier and more affordable than you may think:

“Help to Buy offers a lifeline for many new purchasers, particularly those struggling to get on the first rungs of the property ladder, because it requires just a 5% deposit on homes up to £600,000. Buyers with this deposit can utilise the increasingly popular Help to Buy scheme to fund 20% of the loan, and apply for a mortgage for the remaining 75% on a range of homes and apartments.

“The scheme provides an affordable mortgage product which has been absent from the housing market for more than five years. This stimulus has seen demand expand by 20% in the past 12 months and been a welcome boost to what was a stagnant market for both developers and prospective purchasers. In the Midlands region alone 2015 figures show that 70% of Keepmoat buyers have chosen the Help to Buy route compared to any other purchase scheme currently available.”

Across the East and West Midlands Keepmoat works exclusively with independent financial adviser, Meridian Mortgages, to guide purchasers through the process. Scott Howitt, sales manager at Meridian Mortgages, states: “Help to Buy has really revolutionised the market; releasing pent-up demand for homes at affordable prices, with low risk repayment terms. Working closely with Keepmoat we guide the prospective purchaser through the process from initial enquiry, through qualification for the scheme, plot reservation, mortgage application and offer. An offer is provided within 28 days to complete the move as quickly and smoothly as possible.”

He continues: “Of the 800 mortgage applications Meridian processed in the last quarter, 75% were first time buyers utilising the benefits Help to Buy has to offer. As demand continues to outweigh supply in today’s property market, we see the Help to Buy product remaining strong for the foreseeable future.”

Keepmoat’s experience in the Midlands mirrors national Help to Buy trends. Recent reports showing the number of homes sold under the government's Help to Buy scheme hit a record during the month of June. Some 4,745 new homes were sold under the equity loan part of the scheme, the highest total since it began in April 2013. Since then, a total of 112,803 mortgages have been arranged under Help to Buy with the majority of sales - 80% - made to first-time buyers. And with industry experts predicting that up to 180,000 new homes need to be built over the next 12 months, the sector will gain greater momentum.

Keepmoat, one of the UK’s top 30 housebuilders, offers a range of quality new homes for sale backed by the government’s Help to Buy scheme, including one and two bedroom apartments to three and four bedroom family homes. Locally this includes Radford Gardens - a new development of 259 houses, including 129 homes for private sale - which is currently half way through construction. Situated on the outskirts of Hereford, Radford Gardens is named after Hereford United's Ronnie Radford, who famously scored a memorable goal in the 1971-72 FA Cup to defeat Newcastle United. The development offers 35 two bedroom, 70 three bedroom and 24 four bedroom homes for sale with prices starting at £148,250. The six-year scheme which started in spring 2014 will also have its own community hub which will include a café available to host activities for the whole community.