These types of deals have proven really popular with first time buyers in recent years, and it has helped more people take that all-important first step to get on the property ladder. Many lenders are taking advantage of these offers, joining them with very attractive mortgage deals, allowing your new home a much more affordable become reality.
There are so many options available to those looking to buy a New Build home, this includes the Government’s Help to Buy Affordable New Build scheme, this allows you to buy a home with as little as a 5% deposit. A benefit of this scheme is that it allows you to retain 100% ownership of your home, with a 15% equity loan from the government.
USING HELP TO BUY TO PURCHASE A NEW BUILD.
You can buy a new build property in England for up to £600,000 and only need a deposit of 5% of the property. You could also be eligible for the Help to Buy equity scheme.
Under the Help to Buy, the UK Government will lend you a further 20% of the purchase price, this means only need a mortgage for the remaining 75% once your 5% deposit is considered. In London, you can apply for a government loan of up to 40% of the property price.
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