The government will give you an equity loan of up to 20% of the property’s listed value. You will need to save a 5% deposit and secure a 75% mortgage from a participating lender. By using this scheme, you could find that getting a mortgage is both easier and cheaper. is a government initiative aimed at giving you a helping hand to get onto and move up the property ladder. There are various strands to Help to Buy including an equity loan and the Help to Buy ISA.
Help to buy
To take advantage of the Help to Buy scheme* you’ll need to make a reservation by 10th December 2020.
Please call the sales team at your chosen development for more information.
*Finishing March, 2021
ALL YOU NEED IS A 5% DEPOSIT
Saving for a Your initial contribution towards the purchase of your new home. can be one of the biggest obstacles for people looking to buy a new home. The Help to Buy equity loan allows you to purchase a new home with a 5% deposit and you’ll also get an equity loan from the government to help reduce the mortgage you need.
HOW DOES HELP TO BUY WORK?
The government will be give you an equity loan of up to 20% of the property’s listed value. You will need to save a 5% deposit and secure a 75% mortgage from a participating lender. By using this scheme, you could find that getting a mortgage is both easier and cheaper. Additionally, you won’t be charged loan fees for the first five years of owning your home. Visit the official Government Help to Buy website
GETTING THE BEST ADVICE
Like the sound of Help to Buy? Anyone using Help to Buy to purchase an A.C. Lloyd home is entitled to free advice from our recommended Independent Financial Advisors (IFAs). Even better they’ll also help you complete the Help to Buy application and use their expertise to help find the mortgage that suits you best.
THE HELP TO BUY ISA – SAVE EVEN MORE
The Help to Buy ISA is designed at boosting your home-buying savings. To give you a helping hand when saving for a deposit, the government will boost your savings by 25%. You will need to set up a Help to Buy ISA with one of the participating banks or building societies. Each month you can save up to £200 into the ISA and receive a 25% bonus from the government. The maximum bonus you can receive each month is £50 and the maximum bonus you can receive in total is £3,000. Please be aware that Help to Buy is only available on selected plots and each initiative has its own terms and conditions that purchasers will need to be aware of.