Help to Buy

You can enjoy owning a new Larkfleet property much sooner - and for less than you think - thanks to the government's new 'Help to Buy' scheme.

The Help to Buy scheme could allow you to own 100 per cent of a new Larkfleet home with just a 75 per cent mortgage and 5 per cent deposit!

With the new scheme, after you have provided a 5 per cent deposit and obtained a conventional mortgage for just 75 per cent of the purchase price, you will receive an equity loan from the government for the remaining 20 per cent (subject to approval). The equity loan is interest free for five years. Every year after this, you will be charged interest on the loan starting at 1.75 per cent of the equity loan value in the sixth year. You can repay the equity loan at any time but you must repay it if you sell your home.

The Help to Buy scheme is different to some other government schemes as it is not just available to first-time buyers. Current homeowners selling to buy a new home can also benefit from the scheme and there is no cap on household income in order to be eligible. Furthermore, there is no restriction on the number of bedrooms a property may have, so in theory a single person could purchase a four-bedroom property with the Help to Buy scheme.

Find out how Help to Buy could work for you by calling one of our sales advisors on 01778 391550.