Help to Buy and Shared Ownership
Help to Buy Equity Loans is a government scheme designed for new-build properties to help you to own your first home or to move up the property ladder.
The government lends you up to 20% in England and Wales, 15% in Scotland and 40% in London towards the cost of your home, so you'll only need a 5% cash deposit (or 10% if you're buying in Scotland). They are only available if you meet the eligibility criteria and you're buying a new-build home. You can find out more about the government Help to Buy equity loan scheme at the government website
Shared Ownership allows you to buy a share of the home and pay rent for the rest. This means you take a smaller mortgage, so the deposit required is lower. However, you need to make sure you budget for your monthly mortgage payments plus the rent.
If you'd like an affordability calculation or Decision In Principle for a shared ownership mortgage, call us on 0345 607 9825