Help to Buy is a Government-backed scheme. Those looking to buy a new home, whether first time buyers or existing home owners, only need a 5% deposit to buy a new Marble Home within England and qualify for some of the best mortgage interest rates available.
Here’s how it works:
- Help to Buy is available to all new homebuyers, not just first time buyers
- You only need a minimum 5% deposit to qualify
- The Government will lend you up to 20% of the value of your property through an equity loan
- You won’t be charged loan fees on the 20% loan for the first five years of owning your home
- The loan can be repaid at any time or on the sale of your home
- You will only need to secure up to a 75% mortgage from a bank or building society
- Help to Buy is only available on new build homes
- There is a maximum home purchase of £600,000
- Help to Buy is only available on new homes in England
Use the slider on the right to enter the value of the property; this will indicate how much the Government may be able to lend based on your deposit and is calculated on the basis that the Government will offer a loan equating to 20% of the total purchase price.