December 16th, 2016
How was 2016 for you? Was it another year of renting and now you’re fed up of it? Maybe it was the year that you found out the insulation on your pre-owned home wasn’t as good as you anticipated for the colder months? Maybe it was the year when two became three, as you started your own family?
Whichever way your 2016 went, why not start your 2017 on a positive note and use the Government backed Help to Buy scheme to secure your new home? For those of you who are wondering what the Help to Buy scheme is, we’ll break it down for you now.
The Help to Buy scheme requires that you, the buyer, to have a minimum 5% deposit of the house asking price initially. The Government will then lend you a further 20% in the form of an equity loan, resulting in you only needing a 75% mortgage from the bank.
A lower mortgage from the bank, means a lower mortgage rate and less interest to pay back. You then have 5 years’ interest free to pay off the equity loan from the Government, which is a huge help to any home owner on every step of the ladder!
So, if you’re looking to move in 2017, make sure you don’t overlook the Help to Buy Scheme. Even if this isn’t your first home, you can use Help to Buy. This is because Help to Buy equity loans are available to first time buyers as well as homeowners looking to move, providing the home you want to buy is a new build priced up to £600,000.
If you’d like to find out more about Help to Buy, pop into one of our developments where our trained Sales Advisors will answer any questions you may have and get you started on your customer journey with us.