HOW DOES IT WORK?
The Government lends you up to 20% of the cost of your new-build home, or up to 40% in London. You’ll only then need a 5% cash deposit and 75% mortgage (55% in London) to make up the rest.
With no repayments on the loan for the first five years of owning your home, this allows you to take advantage of better interest rates and assists your move on to or up the housing ladder. The loan is paid back either at the end of the mortgage term, or when the property is sold.
COULD YOU BE ELIGIBLE?
If you can answer yes to the following points you may eligible:
- You are a first time buyer
- You have no interest in any other properties abroad or in the UK, now or in the past
- You have a deposit of 5% or more
Regional price caps apply and we would be pleased to discuss the threshold in your area with you.
*All loans are subject to availability, status and require a financial assessment in accordance with the Homes England guidelines.
Help to Buy is designed to provide affordable long term home ownership with reduced income multiples.
Further information can be found on www.helptobuy.gov.uk along with their contact information.