Your dream home just got more achievable! - Loxley Holdings
ANNOUNCMENT: Loxley Homes has been renamed as Loxley Holdings to better reflect our growth as we take on a wider range of projects.

Your dream home just got more achievable!

30th May 2019

What is Help To Buy?

The Help To Buy equity loan is available to first time buyers as well as homeowners looking to move.

The loan is currently available on all properties up to the value of £600,000 – meaning all our Village Mews properties in Darley are available through the scheme.

How does it work?

You will need a minimum deposit of 5% which will then be topped up with another 20% (equity loan) from the Government which you can use as an additional deposit. This equity loan is interest free for the first five years.

With the additional 20% equity loan, this means you don’t need to lend as much from your mortgage provider, meaning it could be a lot easier to get a mortgage – based on your income.

The property that is being purchased must only be your residence, the Help to Buy scheme is not available to assist buy-to-let investors or those that own any other UK / overseas property.

Help To Buy Example:

Secure ‘The Ilkley’ – a three bedroomed, semi-detached family home with just a 5% deposit and then receive up to 20% with a Help To Buy equity loan!

  • Purchase Price – £330,000
  • 5% deposit – £16,500
  • 20% Equity loan (Government) – £66,000
  • 75% Mortgage – £247,5000

How do you repay the loan?

You can make payments towards the equity loan before the interest free period ends (this is commonly known as staircasing), but those using the loan scheme usually remortgage after five years and raise the capital to pay off the full amount in one go.

The minimum voluntary staircasing repayment is 10% of the value of the property at the time of the payment.

Can you sell your home?

You can sell your home at any time, but an independent valuation must be obtained. This is needed because you’ll always pay back the equity of the property you’ve borrowed.

The loan and any outstanding fees must be repaid when you sell your home. You will pay the cost of selling and it must be sold on the open market at the prevailing market valuation.

Are there any fees?

You must pay a monthly management fee of £1 per month from the start of the loan until it is repaid.

Make your dream home a reality with Loxley Holdings!

Village Mews in Darley is the perfect location to call home for growing families, this exclusive development will house 18 properties across six different designs, all coming with the highest quality in specification and stonework. This will ensure properties keep in with the local environment and neighbouring dwellings.

Deciding to live at Village Mews could be one of the best decisions you will ever make. Come and take advantage of village living with the added benefits of having a spa town and city amenities just minutes away.