This mortgage is a scheme that lets first time buyers and those moving home only if they qualify for the scheme to just need to put down 5% of a home’s value for a deposit. The UK government will then join in to boost this amount with an equity loan.
The British Government will lend up to 20% of the cost of your new home.
become successful and start to make progress
DO QUALIFY FOR A HELP TO BUY?
The offer is for new build homes only. The government lends first-time buyers and existing homeowners the money to buy a newly-built home. The price of the purchase must be no more than £600,000.
Who can get a Help To Buy Mortgage?
Most lenders offer these mortgages. The scheme is available throughout the UK, the scheme will enable you to take out an equity loan of 15% of the property value from the government. This, along with your 5% deposit, would mean that you’ll only need an 80% mortgage on your home.
Thinking of help to buy
Cultivating New Ideas
Are there Tax relief for a Help-To-Buy Mortgage
There are a few differences in how the scheme works in Scotland and England, and a couple of variations of the scheme as well. Your Azembel mortgage adviser will be more than happy to go over the points of these to make sure you fully understand your options. When it comes to this scheme, we will not only assure that you get the very best mortgage deal available to you, but we’ll guide you through the whole application, we will deal with the paperwork, and liaise with lenders, builders, and solicitors for you.
What is a Help to Buy Mortgage?
Saving for a large deposit can be a difficult journey, and sometimes, may not even be impossible. The government scheme created to help people with little deposits to move home or buy their property.
ARE HELP TO BUY EXPENSIVE?
The government’s Help to Buy scheme, allows you with as little as a 5% deposit and have lower mortgage repayments than you would be otherwise able to do with a standard mortgage arrangement.
All though there were originally three parts to the scheme:
Mortgage Guarantee – for those buying homes that are already lived in or new build properties
Equity Loan – only available on new build properties
Help to Buy ISA – this scheme that helps buyers save towards their first home.
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