Help to Buy
Here is an example of how Help to Buy works based on purchasing a property for £85,000.
As well as buying with a standard mortgage, both existing home-owners and first-time buyers can benefit the Government-backed Help to Buy* scheme which could see them purchase with as little as 5% deposit.
Here’s how it works:
1) You need just a 5% deposit to qualify.
2) The Government will lend you up to 20% of the value
of a property in the form of an equity loan which can
be repaid at any time or on the sale of your home
3) You then need to secure up to a 75% mortgage from
a bank or building society.
• Help to Buy is available to all potential and existing
homeowners and there is no salary cap or joint income limit applied
• The scheme covers all new build properties up to the value of £600,000
• It will run for 3 years from 1 April 2013 (so until April 2016)
For more information on Help To Buy visit: www.helptobuy.org.uk
*Terms and conditions apply – contact us today for further information.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Allows us to offer 90-95% mortgages on apartments at Mulberry House, meaning you only need to find a 5-10% deposit to be a part of our stylish community.
How it works:
1) The buyer will need just a 5% deposit and then qualify for a mortgage
with a mortgage lender in the usual way and be subject to the lender’s
normal assessment criteria.
2) The buyer must choose which of the stunning range of one and two bedroom
apartments you want to make your home then speak to our financial advisor
who will assess your mortgage requirements and advise if a NewBuy
mortgage is suitable.
3) You will then need to apply for a mortgage and once you have your mortgage
offer and have reserved your chosen apartment, you’re on your way to
becoming a proud new home owner.
For more information on NewBuy and to download the full buyers guide please visit www.newbuy.org.uk
Parents have a host of schemes to choose from and are often surprised to discover that they do not need to have a savings pot sitting in the bank to invest. There are many other relatively risk-free ways they can help their child, whether freeing equity from their own home, or acting as a guarantor on their child’s mortgage.
For more information on Help to Buy or to find out more on options available if you’re interesting in investing in property for an offspring, call 01924 339 468 email email@example.com or click here and simply fill in your details.