Help to Buy is a Government scheme which makes it possible to buy a new or existing home with just a 5% deposit. With a help to buy equity loan the Government lends you up to 20% of the cost of your new-build home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
Help to Buy will only work on mortgages on properties that are selling for under £230,000. For more information on the houses this could work with at Montrose Woods, have a look at our ‘Houses’ section on our website or get in touch with us to discuss this further.
In order to take the process further, you will need to deal with Help to Buy directly.
Their website details are; www.helptobuy.gov.uk