HOW DOES HELP TO BUY WORK?
With a Help to Buy Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.
You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
WHO IS ELIGIBLE?
- Equity loans are available to first time buyers as well as homeowners looking to move.
- The Government provides an equity loan of up to 20pc.
- It’s interest-free for the first five years on new build homes in the capital worth up to £600,000
- You need a 5pc deposit to secure a mortgage of at least 25pc and up to 55pc
- The loan can be repaid at any time or when you come to sell