Help to buy
With Help to Buy, you can buy a new home with just 5% deposit – whether you’re a first time buyer or you’re moving on from your existing home. The popular Government funded Help to Buy Equity Loan is available until 2020, so you can find your new home with just a 5% deposit.
The Government will provide an equity loan of up to 20% of the value of your property (40% in some London areas) and you’ll need to obtain a 75% mortgage (55% in some London areas) and put down a 5% deposit.
The Help to Buy equity loan is interest free for 5 years up to a value of £600,000. It is not available to assist buy-to-let investors or those who will own another property after they complete.
Your home maybe repossessed if you do not keep up payments on your mortgage. This calculator is provided for guidance only. Subject to affordability checks, you may qualify for a higher equity loan amount from the Government. You should take advice from a suitably qualified advisor before agreeing to a mortgage.
Contact us today and we’ll put you in touch with our recommended mortgage broker who will be able to tell you if you qualify for the scheme.