All Financial Situations Considered
Help To Buy
If you are a first -time buyer you apply first to a Help to Buy agent in the region where you wish to purchase. There are similar schemes in the rest of the UK.
This is a loan from the government that you put towards buying a newly built home.
You put down a minimum of 5% on a new build and the government lends up to a maximum of 20% outside London or 40% in London, creating a total deposit of 25% or 45% in London.
The amount you pay for your home depends on where in England you buy it and the property price caps are below:
North East £186,100
North West £224,400
Yorkshire/ Humber £228,100
East Midlands £261,900
West Midlands £255,600
East of England £407,400
South East £437,600
South West £349,000
You would a need a mortgage to cover the rest of the purchase price.
Please fill in the Mortgage Enquiry Form or call us on 0161 317 7496 to discuss how much you can borrow for your mortgage and the mortgage process.
You or anyone you are buying a property with must have not owned a home now or in the past in the UK.
Anyone who is married or in a civil partnership will have to make a joint application with their spouse or civil partner.
There are several of the Government’s affordable schemes available, such as, Help to Buy: Shared Ownership, Help to Buy: Shared Equity and Forces Help to Buy.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.