WHAT IS HELP TO BUY*
Help to Buy* is a Government-backed scheme to help buyers secure a mortgage on a new build home. It means that home buyers can own a home with only a 5% deposit and gain help funding up to 20% of the purchase price. The initiative is available to first time buyers.
HOW DOES IT WORK?
With Help to Buy* you will receive an Equity Loan from the Homes and Communities Agency (HCA) to help you secure a mortgage. The scheme has been designed to assist those that can maintain a mortgage, but who cannot currently acquire one due to large deposit requirements.
Help to Buy* offers a maximum of up to 20% of the purchase price through an equity loan funded by the Government. The remaining 80% is then made up through a 5% deposit and 75% mortgage from a bank or building society.
As of April 2021 to March 2023, the equity loan is available on new build properties up to a maximum value of £244,600 in the West Midlands region.
|Here is an example|
|So you would pay from only £104,000* now|
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
The property purchased must be your only residence. Help to Buy is not available to assist buy- to-let investors or those who will own any property other than their Help to Buy property after completing their purchase. You cannot rent out your existing home and buy a second home through Help to Buy.
Further information is available at www.helptobuy.gov.uk/equity-loan.
Speak to one of our sales advisors to see if we can get you moving into your dream home with Help To Buy* or any other schemes that might be available.
Alternatively, email [email protected] to request a phone call.