Help to Buy
For those looking for help with the purchase of their new home, SevenHomes offers buyers the popular Government-funded Help to Buy Equity Loan.
Available until 2021, and open to both first time buyers and existing home owners, you can find your new home with just a 5% deposit, making one of the largest purchases you’ll ever make that little bit easier.
What is Help to Buy?
Help to Buy is available to help those who can’t quite afford the mortgage on 100% of a home and offers the chance to buy a share of your home with the rest paid for by a loan from the Government.
- The Government provides an equity loan of up to 20% of the value of your property which is interest free for five years
- The Help to Buy equity loan can be repaid at any time or on the sale of your home
- You then need to secure up to a 75% mortgage, there is a range of competitive mortgage rates available with this scheme, so you can find something to suit your budget
- Available on new build homes up to £600,000 in England, £300, 000 in Wales and £200,000 in Scotland
The requirements for Help to Buy: Equity Loan are as follows:
- Equity loans are available to first time buyers as well as homeowners looking to move. The home you want to buy must be newly built with a price tag of up to £600,000.
- You won’t be able to sublet this home or enter a part exchange deal on your old home. You must not own any other property at the time you buy your new home with a Help to Buy: Equity Loan.
For more information call 0121 233 443 or visit https://www.helptobuy.gov.uk/