If you have saved a 5% deposit, then you could apply for a Government backed equity loan of up to 20% that's interest free for the first 5 years*. What's more, we can help you arrange a competitive 75% loan-to-value mortgage, so your monthly mortgage payments may be much lower than you think.
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.
Find out more about the London Help to Buy scheme here.
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. At the start of year six, 1.75% interest is payable on the equity loan, which rises annually by RPI inflation plus 1%. 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.