HELP TO BUY
It can be difficult to save the large deposits required to secure a home of your own, however, with the government backed Help to Buy shared equity scheme you can purchase here at The Gables 2 with just a 5% deposit. And it’s not just for first time buyers, if you’re looking to move up the property ladder you can also benefit.
HOW IT WORKS
1. You need just a 5% deposit to buy a new build home.
2. On qualification, the Government will lend you up to 20% of the value of a property in the form of an equity loan which can be repaid at any time or on the sale of your home.
3. You then need to secure up to a 75% mortgage from a bank or building society.
• Help to Buy is available to all potential and existing homeowners and there is no salary cap or joint income limit applied.
• The scheme covers applicable new build properties up to the value of £600,000.
• It will run until April 2020.
• The loan is interest free for the first five years.
In the sixth year, you will be charged a fee of 1.75% of the loan’s value. The fee will increase every year and this increase is worked out by using the Retail Price Index plus 1%.
See more at www.helptobuy.org.uk
* The Help to Buy scheme is subject to availability, terms and conditions and acceptance of the Help to Buy scheme. YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED ON IT.
Our sales team can introduce you to our team of Independent Professional Advisers who will be able to offer expert assistance specific to your needs for buying your investment including financial advisors and rental experts.
Parents no longer need a hefty nest egg before they can help their children onto the property ladder. There are many other relatively risk-free ways parents can help their child, whether freeing equity from their own home, or acting as a guarantor on their child’s mortgage. Speak to one of our Sales Advisors for the full range of buying options available.