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What is Help to Buy?

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If you’re a first-time buyer, the government’s ‘Help to Buy’ scheme could get you one step closer to moving into an exceptional Estate Developments home.

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How does it work?

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With as little as 5% deposit, the government will lend you another 20% for a new-build home up to the price of £228,100 in Yorkshire, £186,100 in the North East and £224,400 in the North West. This means you’ll only have to apply for a 75% mortgage while owning 100% of your new home.

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The equity loan is interest free for the first five years, and you can pay it back within 25 years living in the property or if you ever decide to sell your home. 

 

In summary:

·         You only need a 5% deposit

·         Available for new build homes only

·         Available to first-time buyers only

·         The government will lend you up to 20% of the value of the new property

·         You will own 100% of your home

·         Equity loan is interest free for five years

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We can introduce you to a New Home Mortgage Adviser who’ll search the market to find you a great deal.

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