Buy Your Home With An Equity Loan
If your deposit is ready and you have selected a property that 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 a 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 and you owe it.
We offer interest-free loans for the first five years. If you fail to pay it back, an interest of 1.75% will be levied.
Our Help to Buy Shared Ownership Scheme lets you buy around 25%-75% of your property. You can pay the remaining amount from renting it.
If you deposit 5% with 45% share on the mortgage that will mean a 50% share of both, you and the government. This makes you liable to pay the rent for living there.
Percentage of your ownership can be increased at any time in future if you want so.
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
Our specialist broker in Help to Buy mortgage will brief you about all schemes and their mechanism. We will also evaluate your financial and personal condition and see the most appropriate Help to Buy scheme for you.