Oxford Street: 01327 706635 | High Street 01327 876389

Help to Buy

 

How does it work?

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

You won’t be charged loan fees on the 20% loan for the first five years of owning your home

 

Example: for a home with a £200,000 price tag

Help to Buy: Equity Loan scheme Example

If the home in the example above sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.

 

. – See more at: http://www.helptobuy.org.uk/mortgage-guarantee/eligibility#sthash.jRHoIbA5.dpuf

Oxford Street: 01327 706635
High Street 01327 876389