Help To Buy
Help to buy mortgages
The UK Government is currently running several Help to Buy schemes, designed specifically to help first time buyers, which may be of benefit if you are eligible. As of 2017, there are three types of ‘Help’: we will be able to assess which one is right for you.
Help to Buy: Shared Ownership
This scheme allows you to own part of a home if you cannot afford to fund 100% of a mortgage. It is possible to own up to 75% of a property, and pay rent on the remaining share. This applies to new and existing builds.
Help to Buy: ISA
With this scheme, it is possible to boost your savings by 25% (up to a maximum of £3,000) when you save up to £200 a month. Scheme ends 2019.
Help to Buy: Equity Loan
For new-build properties only. An Equity Loan allows you to borrow up to 20% of the mortgage from the Government, deposit only 5% yourself and arrange a 75% mortgage to cover the rest. This scheme benefits from 0% interest for the first five years, and is available until 2021.
Terms and conditions apply. For more information, or to see whether these schemes are appropriate for you, call us now and we will be happy to help.
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