You could buy one of our new homes with a 5% deposit plus a 20% equity loan
This new Government scheme has removed many of the previous restrictions that FirstBuy had, such as you don’t have to be a first time buyer anymore. This has really opened up the opportunity for more people to buy their dream home – so owning your own Upton Square could be a lot easier than you think.
- Help to Buy is available to existing home owners and first time buyers
- Your mortgage lender is likely to require a deposit of 5%
- The Government will provide an equity loan of up to 20% of the full purchase price, what’s more – it’s interest free for 5 years
- The loan can be repaid at any time or on the sale of your home
- It’s only available for new homes, so Upton Square homes are ideal
Here’s a working example:
|Example of Help to Buy home ownership||£||%|
|Open market price of new home||£120,000||100%|
|Help to Buy buyer mortgage @ 75%||£90,000||75%|
|Help to Buy buyer pays 5% deposit||£6,000||5%|
|Help to Buy buyer total contribution||£96,000||80%|
|Agency Help to Buy assistance 20% equity loan||£24,000||20%|
Contact us on 01604 244 406 and we’ll let you know what the figures are for the Upton Square home you’re interested in.