Could Help to Buy help you?
Government figures show that over 190,000 properties have been purchased using Help to Buy’s equity loan scheme since it started in 2013.
Could it help you?
The scheme helps all, not just first time, buyers achieve a higher deposit and therefore access more affordable loan-to-value mortgage rates. So, could this scheme help you buy the house of your dreams? Here’s they key things you need to know:
- Help to buy is not just for first time buyers, it is also available for buyers that want to move up the housing ladder. Even if you have a house to sell, this scheme is open to you.
- The 20% equity loan is interest free for 5 years!
- You need to have access to a 5% deposit, making your total deposit 25%. You then mortgage the remaining 75% benefiting from lower LTV rates.
- It is available on houses up to £600,000.
- All Heywood Homes properties are available with Help to Buy!
So how much deposit and mortgage would you need for the properties on our Moorland View development? Hou could buy the Kauto 4 bed detached property with just a £19k deposit and the Orchid 4 bed townhouse with a deposit of only £13,750.
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The Kauto – Plot 27 |
The Orchid – Plot 15 |
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Buy price |
£380,000 |
£275,000 |
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5% Deposit |
£19,000 |
£13,750 |
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20% HTB Equity Loan |
£76,000 |
£55,000 |
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Total Deposit |
£95,000 |
£68,750 |
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Mortgage |
£285,000 |
£206,250 |
For more information, full eligibility criteria and affordability calculator visit Help to Buy NEYH, or get in touch with us to start the search for your perfect home.
