More good news for home buyers. Yesterday Teresa May announced a further £10 Billion funding for the Help to Buy Equity Loan scheme.
This is another boost for the housing market, designed to help purchasers with small deposits to purchase a new build property. If you are not familiar with this scheme, you are able to put down as little as a 5% deposit and the government will grant up to a further 20% of the purchase price as an equity loan that is interest free for the first five years.
This scheme may not suit or appeal to everybody as it has a number of restriction that will apply. But for the right people and for those who fully understand it, it can be a very welcome boost, enabling many people to purchase there first or only property. Coupled with historically low interests rates and with the government actively encouraging developers to build more properties there has not been a better time to buy. For full details on how it works please follow this link:
Helptobuysw is the government agency serving the south west and we have found them to be very helpful and very willing to answer all of your questions concerning this scheme.
As independent mortgage advisers we are not linked in any way to the property developers who you would be buying from and who may have a vested interest in what mortgage broker thay would like you to arrange your mortgage with. For totally unbiased guidance and access to the whole mortgage market we are best placed to help you choose the right mortgage that will allow you to benefit fully from this scheme.