Help to Buy Mortgage Advice
Help to Buy Mortgage Advice in Doncaster
Buying a new home can be full of surprises and at times, quite intimidating, especially if it’s your first time doing so.
Don’t fret – you’re in safe hands with us – please don’t get fooled into thinking you have to do your mortgage with your builder!
We will be here to support you, with no vested interest, throughout the whole process. From your initial enquiry to getting the keys to your dream home, we will be by your side. It is also quite important you understand that when buying a new build, things may not go the way you want them to and having an experienced mortgage broker with you on the journey can prove invaluable.
The video below is from the Helptobuy.gov website and explains the Help to Buy Scheme well …
To see if you qualify, please contact us.
How does the Help to Buy: Equity Loan Scheme 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.
Example: for a home with a £200,000 price tag
If the home in the example above sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.
For more information (including advice on fees and paying back your loan) please download our Help to Buy Buyers’ Guide (PDF).
Help to Buy Mortgage Broker – Help to Buy Mortgages
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