Help to Buy is a government backed scheme offering either an equity loan or a mortgage guarantee to assist you in the purchase of your new or second hand home, with a deposit as little as 5%.
If you are looking to buy we advise you arrange a no obligation consultation with one of our Mortgage Advisers by calling 01395 222391.
What is it?
The Help to Buy equity loan makes new build homes available to all home buyers (not just first time buyers) who wish buy a new home, but may be constrained in doing so. As long as you have a deposit of 5%, up to 20% of the purchase price is available through an equity loan funded by the Government. A mortgage for the remaining 75% will need to be secured from a commercial lender.
Help to Buy will run from April 1st 2013 until 2020.
What properties are included?
What is it?
A Help to Buy mortgage guarantee lets you buy a newly built home or an existing property with a deposit of 5% of the purchase price.
Help to Buy mortgage guarantee scheme is scheduled to end on December 31, 2016.
To qualify for a Help To Buy mortgage guarantee, your new home must be:
To qualify you must be either:
You don't have to be a first-time buyer and there's no limit on your level of income. But you can't use Help To Buy with any other publicly funded mortgage scheme.
NoteThis scheme is only available for your main residence & on HTB option 1 you cannot own any other property.