

Getting onto the property ladder has never been more difficult. But the Government’s Help to Buy scheme is here to help.
With Help to Buy, you can buy your own home with just a 5% deposit and a 75% mortgage. The Government lends you up to 20% of the cost of your newly built home, so you’ll need a 75% mortgage to make up the remainder of the purchase price. The Help to Buy Equity Loan is interest-free for 5 years and can be repaid at any time or on the sale of the home.
The 20% equity loan is interest free for 5 years’ and in year 6 a fee of 1.75% of the loan is charged, paid monthly by direct debit. The fee increases annually by the Retail Price Index (RPI) + 1 per cent. The loan can be repaid at any time at an amount equal to
How it works
will contribute 20%
20% of the market value, whether the property value has increased or decreased. Partial repayments are allowable at a minimum amount of 10% of the market value at the time of repayment. The loan must be repaid on the sale of the property or after 25 years, whichever comes first.
New Help to Buy scheme announced for First Time Buyers
The Government has announced a new Help to Buy scheme to run 1 April 2021 until 31 March 2023. It is restricted to first-time buyers and includes regional property price caps to ensure the scheme reaches people who need it most. As with the current scheme, under the new scheme, the government will lend buyers up to 20% of the cost of a newly built home .
For more information talk to us or visit www.helptobuy.gov.uk
YOUR home may be repossessed if you do not keep up repayments on your mortgage. A set fee may be payable upon completion of the mortgage when you buy through the Help to Buy: Equity Loan scheme.
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