Help to Buy Mortgage Advice
Help to Buy Mortgage Advice in Nottingham
Buying a new home can be intimidating and full of surprises, especially if it’s your first time.
You’re in safe hands with us – please don’t get fooled into thinking you have to do your mortgage with your builder!
We’ll support you throughout the whole process, with no vested interests, right until you get your keys and move in. It’s important to understand that, when buying a new build, things don’t always go the way you want them to.
Having a Trusted Mortgage Advisor on your side will be beneficial.
The video below is from the Helptobuy.gov website and explains the Help to Buy Scheme well …
Please contact us to see if you qualify for the scheme …
Q. How does the Help to Buy: Equity Loan Scheme work?
With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.
You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
Example: for a home with a £200,000 price tag
If the home in the example above sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.
For more information (including advice on fees and paying back your loan) please download our Help to Buy Buyers’ Guide (PDF).
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