With a 5% deposit and 75% mortgage, you can move on to a new Fairview home with Help to Buy.
The Help to Buy: Equity Loan (2021-2023) is available to first time buyers only, and regional property price caps will be introduced, which for the south east will be £437,600. It means with Help to Buy, your dream is now more affordable.
However if you aren't a first time buyer, the Government have now introduced a 95% Mortgage Guarantee Scheme which will help you make your move to a new Fairview home. To find out more click here.
The Help to Buy scheme is a great way for you to make one of our well connected homes all yours. If you have your deposit already, you’ll need to secure a 75% mortgage (we can advise you with this), and then the remaining 20% is supplied by the government as an equity loan, interest free for the first 5 years.
Why is this for us?
If you have 5% deposit saved and are interested in a new build home but want to make your mortgage repayments more affordable, then Help to Buy is for you.
What do you need to know?
There is no age limit
You need a minimum of 5% deposit, and must have a mortgage of at least 55%
It’s open to all UK residents living in the UK, as long as you don’t own any other property at the time you buy, in or outside the UK
After 5 years, you pay 1.75% of the outstanding amount of the loan, 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.
So, if you’re looking to move on to one of our new build homes, London Help to Buy is for you. Use our calculator below to see how it can help you.
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 atwww.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.
Land to sell? Talk to Fairview.
We are always looking for opportunities to buy land for future development in London and the South East.