The Government backed "Help to Buy" equity loan scheme is available, a 5% deposit is all you need.
Help to Buy: Equity Loan is a loan from the government that you put towards the cost of buying a newly built home.
Help to Buy aims to help first-time buyers to get on the property ladder. If you're eligible for an equity loan, you can borrow up to 20% (40% if you're in London) of the market value of a new home.
When you take out an equity loan, you only pay interest on the amount you borrowed. You should be aware that the interest payments you make do not go towards repaying your equity loan. You cannot make monthly repayments to reduce your loan.
But you can choose to repay it all or in part at any time. If you sell your home, you will need to repay all of your equity loan. You can only apply for Help to Buy if you reserve your new home with a Help to Buy registered homebuilder.
About the Scheme:
- Available to all First Time Buyers.
- A minimum of 5% deposit is required.
- Available on all new homes in England (Regional Price Cap Applies)
- No household annual income limit.
- Only available on new build properties
- The government will loan you, interest free for the first 5 years, up to 20% of the value of your property through an equity loan.
- The loan can be repaid at any time or on the sale of your home.
- You will only need to secure up to a 75% mortgage.
Don't miss out on this fantastic chance to buy.
FOR MORE INFORMATION ON Help to Buy or to view one of our stunning Show Homes, contact Dawn on 0333 320 8565, Caroline or Stephanie on 0330 333 7381, Jan or Jenny on 0330 333 7378 & Anita on 0330 333 7372.
Download the "Help to Buy" buyers guide by clicking the link below:
*The information provided was correct at the time of going to press.