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Help to Buy: Equity Loan

HelptoBuyThe Help to Buy equity loan scheme is for the purchase of new build properties, available to first-time buyers and home movers. The government will lend you 20% of the purchase price, and you only need a minimum 5% deposit. This means you only need a 75% mortgage, potentially offering better rates than higher loan to values making buying your new home more affordable.

You pay no interest on the 20% Government loan for the first five years, and then this is paid back in monthly installments with a low-interest rate increasing year on year.

Example (Source: http://www.helptobuy.org.uk/):

help-to-buy-equity-loan

 

At Mortgage & Money Management we can discuss whether this is the right option for you. Please contact us for more details.

Speak With One Of Our Advisers

For any further information please feel free to contact us either by telephone, email or via contact us on our website. You will receive a response within 24 hours of your enquiry.

Call 01920 821333Or enquire here