Open the door to owning your new home
Shared Ownership
With the government’s Help to Buy: Shared Ownership scheme you can buy as little as 25% or as much as 75% of a home and pay rent on the rest.
Equity Loan
How does it work? With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
Worked example based on a £200,000 purchase price
|
You arrange mortgage |
(75%) |
£150,000 |
|
Deposit |
(5%) |
£10,000 |
|
Government equity loan |
(20%) |
£40,000 |
|
Total Purchase Price: |
£200,000 |
There are many other services offered by Help to Buy, if you are interested in any of the Help to Buy products, please click here to visit www.HelpToBuy.gov