Help to Buy Equity Loan
If you buying with the aid of the Help to Buy Scheme it is important to ensure your solicitor is familiar with the process and the complexities that this involves.
- Available on new-build homes up to £600,000 in England and £300,000 in Wales
- You need to have a minimum deposit of 5% of the property value
- You will therefore only need to secure up to a 75% mortgage from a bank or building society
- The UK Government will lend you up to 20% of the property value through an equity loan which can be repaid at any time during the loan term or on the sale of your home
- The loan is interest-free for the first five years
- There is a wide range of mortgage products available with this scheme so you can find something to suit your individual budget and requirements