Help to Buy Equity Loan is a government scheme designed to help people with limited deposits to buy their first house or to move home.
A minimum 5% deposit is required which can be from savings, equity from the sale of a property or a family gift. The government will then lend up to 20% of the value of the property interest free for the first 5 years – up to a maximum purchase price of £600,000. As a result you would be borrowing less from a mortgage lender and also benefit from better interest rates due the size of the overall deposit.
We are able to assess your eligibilty for the scheme and confirm what price property you will be able purchase. We work very closely with the Help to Buy agencies, so we are experts at helping customers through the application process.
Different limits may apply to the scheme in London, Scotland and Wales – Please contact us for details.
As well as helping you with your purchase, we help with remortgaging when your rate expires and also when you are ready to repay the govenrment Help to Buy loan providing advice and support during this process.
