Help to Buy Mortgages
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After the five-year interest-free period finishes, you’ll be charged interest on your loan from the Government.
You can repay the loan at any stage, but it must be paid off within 25 years. If you sell the house sooner than this, you must repay the loan when you move. The initial loan is repaid, plus a proportion of any growth in property value.
You’ll only be eligible to apply for the equity loan part of Help to Buy if the property you are purchasing costs £600,000 or less.
The property you are buying must be your only home, and you can’t use the scheme to buy a property to let out. Properties must be purchased from a builder who has registered for the scheme.
We can tell you if you qualify for Help to Buy and the maximum purchase price you’ll be able to afford. Then we’ll recommend the best lender and mortgage deal depending on your priorities, as well as checking that Help to Buy is available through your chosen lender as not all lenders offer the scheme and not all deals or rates are available.
The application for the Help to Buy scheme is long and complex but we have the expertise to guide you through the process.