Help to Buy

Saving up for a high mortgage can be a difficult task. It is not easy to raise funds over time; in fact, it often seems to be impossible. If you are in search of a solution to this problem, then help-to-buy mortgages are available for you. Help-to-buy mortgages can help you purchase a property with as little as a 5% deposit. It could help you buy a house with a lower mortgage repayment. So, if you are nearing retirement and do not have the funds to finance your home, then help-to-buy is the perfect option.

Note: As a dedicated accountancy firm in the UK, we prioritize financial well-being. While we do not directly offer mortgage services, we collaborate with trusted professionals. We proudly recommend Credas Financial as our preferred mortgage advisor. Their expertise aligns seamlessly with our commitment to client satisfaction. Please note that our role is solely that of an introducer; we do not provide mortgage services directly. Clients are encouraged to assess Credas Financial’s services independently. We aim to facilitate informed decisions, fostering a comprehensive financial experience for our valued clients.

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What is a Help to Buy

Help-to-buy mortgage is basically a government scheme. It is available throughout the UK.

The loan scheme allows you to have an equity loan of about 40% of the property value. The government funds the scheme. It gives you a deposit rate of 5%. This suggests you must only repay 55% of the total mortgage deal.

There is no hard and fast rule about the amount of deposit. If you find it feasible, you can pay a higher deposit. The advantage of submitting a higher deposit is that it increases the probability of your mortgage acceptance. Help-to-buy mortgage schemes are beneficial for those who are the following:

  • first-time buyers of the property
  • nearing retirement
  • having a low income

Advantages of Help-to-Buy

  • You need only a small deposit.
  • You pay a small amount per month for the initial five years.
  • You get your new home.
  • Paying to own a property is better than paying rent.
  • The first five years are interest-free.

Who can help you own your home?

Are you in search of Help-to-Buy mortgage advice? Talking to the experts of Credas Financial on this matter is a good option. They guide clients in the Help to Buy scheme from start to end. They can tell if you qualify for a better scheme or if you can find a competing deal that suits you.

Buy your home with an Equity Loan.

If your deposit is ready and you have selected a property you want to buy through a mortgage, make an application now. For instance, if you are willing to deposit 5%, you will get an extra 20% loan from the Government to make 25% of the total deposit. If you opt for a 15% deposit, the loan from the Government will be 10%.

Now, you have a deposit of 25% of the new property, which makes your mortgage only 75%. Although the percentage from the Government is also a loan, you owe it. Most of the mortgage brokers offer interest-free loans for the first five years. If you fail to pay it back, the interest of 1.75% will be levied.

The Help to Buy Shared Ownership Scheme lets you buy around 25%-75% of your property. You can pay the remaining amount by renting it. If you deposit 5% with a 45% share on the mortgage, that will mean a 50% share between you and the Government. This makes you liable to pay the rent for living there.

Your ownership percentage can be increased at any time if you want to. It is a common practice for Help to Buy applicants to increase the percentage of their share after they settle in or manage more funds.

Free Mortgage Consultation

Help to Buy Mortgage specialists at Credas Financial can brief you about all schemes and their mechanisms. They will also evaluate your finances and personal condition and see the most appropriate Help to Buy Scheme.

Many Help to Buy applicants have passed the lender’s criteria quickly with their help. They will help you to be the next one. They can provide you with their Help to Buy Buyer’s Guide if you want to ask for anything or advice on fees or loans.

Get Expert Mortgage Broker Advice

The mortgage experts at Credas Financial analyze your individual and financial stability and choose the best Scheme for you. They made their clients feel content and delighted in the whole process. Some of the usual Help to Buy mortgage circumstances are as follows:

  • You can own a home with only 5% of the deposit, while Help to Buy Shared Ownership deposits are much less than this.
  • Help to Buy: In an Equity loan, the government lends up to 20% of the home value. You can do it with only 5% of the deposit and 75% mortgage.

Credas Financial will provide you with the best mortgage deal for help-to-buy mortgages. Their advisors will look into your finances and situation before proposing any agreement and will happily take you through various aspects of help-to-buy mortgage schemes.

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    Leeds: 94 Street Lane, LS8 2AL
    Birmingham: 9 Sheaf Lane, Coventry Road,B26 3EJ
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    Leeds: 94 Street Lane, Leeds
    Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham
    London: Suite 2462, Unit 3A,34-35 Hatton Garden,London, EC1N 8DX
    Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
    OUR LOCATIONSWhere to find us
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    Birmingham: 0121 7268 542
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    Bradford: 44 7515 029751
    GET IN TOUCHCare Accountancy Social Links
    Taking seamless key performance indicators offline to maximise the long tail.

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