Help to buy mortgage schemes


Matt Cassar

To find out exactly what your eligible for and at what rates please or give us a call on 0800 304 7880.

Help to Buy explained

Background

The government launched the initial scheme (Help to Buy 1) last year, to assist borrowers in purchasing new build properties with just 5% deposit and a free 20% equity loan from the government, in an attempt to get the market moving and potential first time buyers out of rented accommodation and onto the property ladder.

NewBuy was launched in March 2012 which was a similar scheme to encourage people to buy newly built property, but without the equity loan - simply put, the government would back a 95% mortgage up to 15% to give the lender more security without having to accommodate the 20% interest free loan.

The success of the schemes has lead to the launch of Help to Buy 2, the same concept as NewBuy but for house-hunters to buy ANY home in the UK under £600k that isn't a new build. It was initially scheduled to launch in Jan 2014 but was brought forward to October '13 to get a running start, and now seems to have kicked the industry back into life with record levels of mortgage approvals.

For more info click here:

If you are ready to start looking at your options in more detail and perhaps want to get a mortgage agreed, then make an enquiry below and an expert will be in touch.


To make an enquiry about Help to Buy, any of the other government schemes, or for anything else, please fill out an enquiry below or give us a call on 0800 304 7880.


 

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