fbpx

You could move with as little as 5% deposit with the Government-backed equity scheme ‘Help to Buy’, which applies to all our homes in England up to the value of £600,000.

 

 

help to buy exampleAvailable to first-time buyers and people already on the property ladder, you’ll need just a 5% deposit and a repayment mortgage of up to 75% of the value of the property. The remaining 20% of the full purchase price is lent to you by HM Government in the form of an equity loan. You won’t be charged interest on the 20% equity loan for the first five years of owning your home.

What is Help to Buy and how can it help you?

help to buy

The HM Government-backed Help to Buy scheme

  • Help to Buy: Equity Loan is available on new-build properties in England up to £600,000
  • There’s no household annual income limit and it’s available to all types of home buyers
  • You only need a minimum 5% deposit and no more than a 75% repayment mortgage
  • HM Government will lend you an equity loan of up to 20% of the full purchase price of the home, it’s interest-free for the first five years
  • You can repay your Help to Buy Equity Loan at any time, when you sell your home,or you can wait until the end of its term

5% deposit + 20% equity loan + 75% mortgage = 100% home ownership

FAQ

Where is Help to Buy available?

Help to Buy is available across all Leading Homes developments in England on homes up to £600,000

Are there any fees to pay?

The loan from HM Government is interest free for the first five years. From year six a fee of 1.75% is payable and will rise annually by RPI inflation plus 1%. A mortgage application fee might be applicable and of course you’ll need to remember the interest on the 75% mortgage.  

What are the repayment terms of the equity loan?

You can repay the Help to Buy equity loan at any time or when your mortgage expires after 25 years (or whatever the term is) or when you sell the property

Can I get Help to Buy if I buy pre-owned homes?

No. Help to buy is only available on new homes. Another good reason to opt for a new home from Leading Homes.

What happens if I already own a home?

You can still use Help to Buy even if you are selling your existing home. Contact us about our Assisted Sale scheme.

Can I use Help to Buy on a buy to let property?

No. Help to buy is only for people who intend to use their home as their primary principal residence.

Can I use any type of mortgage product?

You can only use a repayment mortgage with Help to Buy. 

Leading Homes

This is a informational website and you use any information on it at your own risk. Nothing on Leading Homes, training or mentoring services constitutes legal or other professional advice, and must not be relied on as such, and it is your own responsibility to ensure that any information discussed is right for your circumstances. Whilst we try and keep information up to date, we make no representations as to the accuracy, completeness, suitability or validity of any information on this site and will not be liable for any errors or omissions or any damages arising from its display or use. View the full disclaimer, privacy policy, terms of use, cookie policy and acceptable use policy

© 2017-20  Leading Homes Limited

This site is protected under copyright and the law of England And Wales. All rights are reserved, including resale rights.

Any trademarks, service marks, product names or named features are assumed to be the property of their respective owners and are used only for reference. There is no implied endorsement if we use one of these terms.

Leading Homes Limited
Company Registration Number in England and Wales: 11886077
Registered Office:  Unit 100, Waterham Business Park, Highstreet Rd, Faversham ME13 9EJ