Help to Buy

Own a stylish City & Country home for less.

HTB Graphic

 

The ‘Help to Buy Equity Loan’ scheme allows buyers to own 100% of a property with as little as 5% deposit, 75% mortgage and 20% government loan. Furthermore, you will not be charged loan fees on the 20% loan for the first five years of owning your home*. The scheme makes property up to £600,000 more accessible for people with small deposits and allows buyers to own homes that are otherwise out of their financial reach. The scheme is even available for purchasers who have previously owned a property* - it is not just for first time buyers and it isn't a shared ownership scheme.

City & Country is delighted to be able to offer Help to Buy at selected developments, making ownership of a stylish property a reality.

The above example shows the Help to Buy breakdown of a property priced at £299,950.

 

Frequently Asked Questions:

  • The Help to Buy: Equity Loan scheme was made available through participating house builders and HomeBuy agents in April 2013 and is available to purchasers who wish to buy a new build property. The scheme works whereby the Government provides buyers with an equity loan of up to 20% of the value of a new build property so buyers only need to raise a 5% deposit themselves and obtain a 75% mortgage to make up the rest.

  • Subject to meeting the eligibility criteria and affordability checks, you can use one of the Help to Buy schemes to purchase a property with a value up to £600,000.

  • The loan is interest free for the first five years. From year six a fee of 1.75% is payable on the equity loan, which rises annually by RPI inflation plus 1 %.

  • The equity loan can be repaid at any time within 25 years (or the terms of the mortgage), or on sale of the property. The total amount repayable by you will be the proportion of the market value of your home that was funded by this loan, plus interest and charges. The amount you will have to repay under the loan agreement will depend on the market value of your home when you repay the Help to Buy equity loan and the rate of inflation in the meantime.

  • The interest rates on the mortgage you select will be set by lenders and so we recommend you speak with a financial advisor directly. The Government will not set the price, this is a commercial decision for individual lenders.

 

For full terms & conditions* and to find out more about the Help to Buy Scheme visit www.helptobuy.org.uk

 

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