help to buy mortgage derby

Help to Buy Mortgage Advice in Derby

Speak to us today for expert help to buy Mortgage Advice in Derby.

If you’re dreaming about owning your first home but need a helping hand on to the property ladder then the Help to Buy scheme could be for you.

Help to Buy is a government scheme that allows first-time buyers or second-time buyers the chance to own their own with a deposit as little as 5% on new build homes up to £600,000.

What is Help to Buy?

The Help to Buy scheme was first announced in 2013 and was designed for helping those get on or move up the property ladder buying a new build home.

The Help to Buy Scheme allows the purchase of any new build or existing home which is sold through approved developers with a deposit of as little as 5%.

This means that you will buy your home by taking out an equity loan of up to 20% of the property value from the government, combined with your 5% deposit leaving you with 75% to fund through a traditional mortgage.

As experienced Mortgage Brokers in Derby, and when it comes to the Help to Buy scheme we promise you that we will not only find you the best deal that is out there but we will also be with you throughout the whole application. That’s right, we will find the best rate, deal with all the paperwork as well as liaising with the lenders, property developers and legal teams on your behalf.

Choosing a property

The Help to Buy scheme is for homebuyers who want to purchase a new build property that potentially they could not otherwise afford.  Maybe because of the area they’re looking in or they can’t afford to raise the full deposit. It’s also available for second-time movers who want to move up the ladder.

There is a cap on the maximum price of the property and that’s set to £600,000 in England. The property must be residential and you must be living in it, not planning on renting it out. It must also be your only property – this means you cannot have an interest in any other property (even a part share) anywhere in the world.

How it works

Help to Buy – Equity Loan

This is where the government will loan you up to 20% of the cost of your new property and as payback for its investment will take a share in any increase or decrease of the future value

You will still need your deposit of at least 5% and you won’t be charged any fees or interest in the first 5 years of the government equity loan. When it comes time to sell the property, you must repay a share of any capital appreciation that has occurred.  A remortgage is also an option after the first 5 years and if the property value is increased, we can capital raise to repay your loan.

Our help to buy mortgage service

You’ll be in safe hands with our Mortgage Advisors in Derby.  We’re able to search 1000’s of mortgage deals in order to recommend the best one for you.  We’ll also help you throughout the whole process until you get your keys and move in!

Book your Free Help to Buy Mortgage Consultation today… 

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