HELP TO BUY
Beverley Homes Ltd now has the Government backed Help to Buy Scheme available.
The Scheme is available to all and can help you to move whether you are a first time buyer or are looking to move on from your existing property.
So how does it work?
The Government will lend you up to 20% of the cost of your new build home (40% in London) so you will only need a 5% deposit and 75% (55% for London properties) mortgage to make up the rest.
There are no repayments on the loan for the first 5 years of owning your home, which allows you to take advantage of better interest rates and helps your move on to or up the housing ladder. The Help to Buy equity loan can be repaid at any time or when the property is sold.
Could you be eligible?
If you can answer yes to the following points you may be eligible:-
- If the purchase price is less than £600,000.
- You have no interest in any other properties abroad or in the UK, or will not have on completion.
- You have a deposit of 5% or more.
All loans are subject to availability, status and require a financial assessment in accordance with the Homes and Communities Agency guidelines.
Help to Buy is designed to provide affordable long term ownership with reduced income multiples.
Further information can be found on www.helptobuy.org.uk along with their contact information or download the guide below.