Help to Buy

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Help to Buy

Thanks to the Help to Buy Equity Loan (2021-2023), if you’re a first-time buyer, you can move to a brand-new Fairview home with just a 5% deposit and a 75% mortgage.

A great way to get on the ladder

The Help to Buy scheme is a great way to take your first step onto the property ladder and make one of our special homes yours. Once you’ve got your deposit, all you need to do is secure a 75% mortgage (which we can advise you on) and then the government will cover the remaining 20% in the form of an equity loan, which is interest free for the first 5 years.

It’s worth noting that a regional property price cap will be introduced on the scheme, which, for the East of England will be £407,400. But even then, your dream of owning your own property might be closer than you think.

 

Is Help to Buy right for you?                      

No age limits

You have to be 18+ when it comes to taking advantage of the scheme and it’s open to all UK residents living in the UK. So long as you don’t own any other property at the time of purchase, in or outside of the UK, you can apply.

Smaller mortgage

To be applicable for the scheme, you’ll need a minimum deposit of 5% and a minimum mortgage of 55%. If you need more information about getting a mortgage, we can help advise you—so just get in touch.

Straightforward repayments

When it comes to paying back the loan, after 5 years, you pay 1.75% of the outstanding amount, which rises each year by the increases (if any) in the Retail Prices Index (RPI) plus 1%. You repay the loan after 25 years, or when you sell your home. Whichever happens first.

How does it work?

£10
5%
£40
20%
£150
75%
Help to Buy: Equity Loan - Eligible applicants will be offered an equity loan of up to 20% of the purchase price at the open market value. Applicants are required to fund at least 80% of the purchase price with a conventional main mortgage and minimum of 5% deposit. For the first five years there is no interest charged on the equity loan. For the 2021-2023 scheme Interest fees start at 1.75% and rise each year in April by the Consumer Prices Index (CPI) plus 2%. The equity loan is provided by the Government’s Homes and Communities Agency, trading as Homes England, and held as a second charge on the Help to Buy home.  Terms and conditions apply. Applicants should seek independent financial advice, and get information and guidance on applying for a Help to Buy: Equity Loan at www.helptobuy.gov.uk. This scheme is subject to status and only available on selected developments and properties in England.  YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Please speak to our Sales Advisors for more details.

Help to buy calculator

£10,000
2.8%
30 years
£611

Your results

Your deposit: 5%
Help to buy loan: 20%
Your mortgage: 55%
Purchase price:

See homes within your budget

With Help To Buy you could borrow £190,000

Find your new home