29th November 2019
…that the Government Help to Buy Scheme isn’t just for first time buyers?
Those with a small deposit, could be eligible to use the Help to Buy Scheme.
Equity Loan scheme is available to first-time buyers and existing homeowners who want to buy a ‘new build’ house just like our Loxley properties.
The purchase price must be no more than £600,000 which all our Darley properties fall under and two of our luxury Eden House apartments too.
Under this scheme, you can borrow 20% of the purchase price interest-free for the first five years if you have at least a 5% deposit. (Please note that there is a monthly admin fee of £1).
The Help to Buy equity loan scheme will be extended until 2023. However, this extension will be restricted to first-time buyers purchasing newly built homes. So, if you are looking to purchase a second home (a new build) you need to move fast to benefit from the scheme.
From 2021, there will also be new regional price caps which could reduce the maximum value of a home that can be bought through the Equity Loan Scheme.
This scheme is only available in England, however other similar schemes are available across other parts of the UK.
Have a look at the figures with this Help to Buy calculator: https://bit.ly/37UFitI