Unlock the door to a new home with the Help to Buy scheme
The Government has created the Help to Buy schemes to make getting onto, or moving up, the housing ladder more accessible for house buyers. Home owners and first time buyers may now be able to purchase a home with as little as a 5% deposit.
The main criteria:
First time buyers and existing home owners
Minimum of 5% deposit
The property must be your only property
The Government lends up maximum of 20% of purchase price (40% in London)
Help to Buy Wales applies to the purchase of new-build homes worth up to £300,000
Help to Buy Scotland available only on new builds.
Available from participating mortgage lenders
Terms and Conditions apply
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.
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Sources: October 2016 http://helptobuywales.co.uk/, http://www.gov.scot/Topics/Built-Environment/Housing/BuyingSelling/help-to-buy, and http://www.helptobuy.org.uk/