There’s no need to save a huge deposit as the government-backed Help to Buy shared equity scheme enables you to purchase here at Infinity Riverside with just a 5% deposit. And it’s not just for first-time buyers, if you’re looking to move up the property ladder you can also benefit.
You need just a 5% deposit to buy a new build home.
On qualification, the Government will lend you up to 20% of the value of a property in the form of an equity loan which can be repaid at any time or on the sale of your home.
You then need to secure up to a 75% mortgage from a bank or building society.
The fee will increase every year and this increase is worked out by using the Retail Price Index plus 1%.
There are also 20, two and three bedroom homes available to buy through Shared Ownership in partnership with Thirteen Group. You only need to afford to buy part of a property, not all of it. It allows you to buy your home in stages (called ‘staircasing’) and you can buy more shares as and when you can afford it. To find out more, contact firstname.lastname@example.org or call 01642 947070.
* The help to buy scheme is subject to terms and conditions and acceptance of the help to buy scheme. Your home is at risk if you do not keep up repayments on your mortgage or any other loan secured on it.
Full terms and conditions are available at www.helptobuy.org.uk
We’ve created a new video to explain how the Help to Buy scheme works.