Help To Buy
The Government’s Help to Buy: Equity Loan scheme offers a more affordable solution for buyers who want to purchase a newly built home at North Stoneham Park and it isn’t just available for first-time buyers.
So, if you’re looking to move to a new property as your family grows or your circumstances change, this could be just the help you need to make your move to this remarkable new community happen.
The Government will lend you up to 20% of the cost
Under the terms of the Help to Buy scheme, the Government will lend you up to 20% of the cost of your new home, which means you just need to raise a 5% deposit. You’ll take out a 75% mortgage to make up the total purchase sum and, for the first five years, there’ll be no fee charged on the 20% loan. The loan must be repaid after 25 years or earlier if you sell your home.
The Help to Buy scheme applies to newly-built properties worth up to £600,000 and it must be your only property. You won’t be able to sublet your new home or take up a part-exchange deal on your old home either.
You can find out more about the Government’s Help to Buy schemes at helptobuy.gov.uk/equity-loan