Help to Buy Scheme
Help to Buy is a temporary government-financing scheme designed to help you get on the property ladder.
Discover if you are eligible for this scheme by contacting The Frost Partnership. We can also discuss your property search requirements or we can put you in touch with our trusted independent mortgage advisors to see what type of mortgage financing would work best for you.
There are two ways to purchase a property through the Help to Buy scheme:
Mortgage guarantee is available on both pre-owned and new build properties with a standard mortgage of up to 95% of the purchase price. The Mortgage Guarantee scheme offers an option of paying 5 -20% of the deposit. Available until 2020.
Equity loan is only available for new build properties. The scheme offers a government equity loan of 20% of the purchase price and you pay a traditional mortgage for the rest.
Help to Buy is designed to assist you to move on to or up the housing ladder. The property that you purchase must therefore be owner occupied; buy-to-let is not permitted. The property you want to buy must be in the UK and the purchase value must be £600,000 or less.
For more information, contact The Frost Partnership