Help to Buy
Borrow up to 20% of your property cost from the Government.
Help to Buy Scheme key facts
Available to all, not just first time buyers but existing home owners also, although you are not allowed to sub-let your new home.
- 5% deposit required as a minimum.
- Available on homes up to £600,000.
- No limit on household income.
- Government lend up to 20% of the value of the property.
- Loan is interest free for 5 years though it can be repaid at any time or on the sale of your property. From years six onwards a fee of 1.75% is payable on the equity loan, which rises annually by the retail price index plus 1%.
You will need to secure a mortgage for 75% of the value of your chosen new home.
How the scheme works
- Speak to an Independent Financial Advisor regarding your mortgage affordability. A mortgage agreement will be sought in principal.
- Choose and reserve your new home.
- A Property Information Form will be completed and sent to the local HomeBuy Agent working on behalf of the Homes and Communities Agency, together with a copy of your reservation form.
- This form will be checked and an Authority to Proceed letter will be issued.
- Upon receipt of your Authority to Proceed letter, you will now be able to complete your full mortgage application.
- The legal process will take approximately 6 to 8 weeks to complete.
Should you require any further information please do not hesitate to contact our Sales Co-ordinator or alternatively please refer to the on-line guide published by the Homes and Communities Agency (HCA).
Click here to for further information
How do I apply?
Speak to our Wynyard Homes Sales Co-ordinator who will refer you to our mortgage advisor, or fill out the form on our contact page.
* available for selected developments and plots only