Green Bee Homes are pleased to announce the introduction of the brand new Government-backed equity scheme “Help to Buy”.
This will enable our applicants the opportunity to buy a new home with a 5% deposit plus a 20% equity loan from the Government, subject to status.
About Help To Buy
Help to Buy is the brand new Government backed equity scheme launched in the March budget of 2103.
Applicants looking to purchase a new home will only need to find a 5% deposit for a property to a maximum value of £600,000, subject to status.
This scheme is applicable to first-time buyers and principle home owners.
Help To Buy Checklist
- Available to all new homebuyers, subject to status.
- A 5% deposit is required.
- A 20% equity loan is available from the Government, subject to status
- The loan is interest free for the first 5 years.
- A fee of 1.75% is payable thereafter on the equity loan. This will rise by RPI inflation plus 1%.
- The loan can be repaid at any time to the term of a 25 year mortgage or on the sale of the property.
- Staircasing ( part repayments ) can also be made at any time provided they represent a minimum of 10% of the current value of the property.
- A 75% mortgage from a bank or building society is required.
- The scheme is available on new build property.
- There is a maximum purchase price of £600,000
- Help to Buy is only available on new homes in England.
- Terms and Conditions apply
To find out more please contact us.