Help to Buy

Help to buy

Only available on BRAND NEW HOMES this scheme enables you to purchase a property with an increased deposit. The Government will fund up to a 20% deposit of your house price for you in the form of an equity share against your home. For the first 5 years you pay nothing back, and after the 5 year period you pay a monthly instalment back which is interest payments of your loan. You do have the option to pay the whole loan back. Help to Buy is something that we have extensive knowledge of and can recommend from a range of products available to suit you. The scheme ISN’T just for First Time Buyers, you do however need to be purchasing your sole property.

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Forces Help to buy

The Forces Help to Buy scheme enables servicemen and servicewomen to borrow up to 50% of their salary, interest free, to buy their first home or move to another property on assignment or as their family’s needs change. You may be eligible to use the Forces Help to Buy scheme alongside the Help to Buy Equity Loan.

Shared ownership

This scheme is a part ownership of the property with the other part usually being owned by a housing association. Shared Ownership is more common in high value areas to make the property market more accessible to First Time Buyers. More often than not you will have to get a mortgage to buy a shared ownership property (exclusions do sometimes apply). You will own the % that you have purchased and pay a rent on the outstanding share that you do not own. For example, if you purchase 70% of a property, you will pay a rent on the remaining 30%. Housing Associations will need to assess your affordability as well as the Mortgage Lender. So we will need to run additional checks for you. .

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Right to buy

Right to buy is another option for you if you have lived in your local authority owned property for a period as a tenant, which is usually 3 years. You may be entitled to a reduction in the value of the property and therefore are benefitting from an additional deposit. We would recommend speaking to your local authority to see whether they would accept you onto this scheme.

For all Government Incentives conditions and exclusions will apply and should be investigated prior to full mortgage application.

Need to talk more about Government Incentives?

Why not book your free consultation now to discuss more about Government Incentives.