Help To Buy
Help to Buy is a Government backed scheme designed to help people onto to the property ladder.
Currently there are two main schemes available:
Where a buyer only buys a certain percentage of the property, say 50% with the other half owned by a Housing Association. You buy your share with a deposit and mortgage in the normal way and the other half would be rented from the Housing Association.
Help to Buy Equity Loan Scheme
Currently only available on new build properties for First Time Buyers. The buyer comes up with a minimum 5% deposit, the Help to Buy Scheme provides a 20% deposit as an equity share which is free from interest in the first five years. Structured payments on the loan start after 5 years. The buyer then organises a mortgage in the normal way and applies to the Help to Buy Scheme for the 20% loan.
We are able to help in all aspects of this, so give us a call to discuss your options.
Help to Buy Mortgage Guarantee Scheme
This guarantee from Government enables lenders to lend at 95% with an insurance backed guarantee from Government. This scheme is available for both first time buyers and home movers.
The guarantee is available to lenders from 1st April 2021.
For more details contact us for a free initial consultation.