Help to Buy is a government-funded initiative to help people to buy their own home. It is available to both first-time buyers and people who have owned a property previously. There are basically two types - Help to Buy: Equity Loan and Help to Buy: Shared Ownership.
Help to Buy: Equity Loan means that the government will offer an equity loan of 20% of the property value, which is free of charge for the first 5 years, if:
(You can of course put down a larger deposit and therefore borrow less.)
Help to Buy: Shared Ownership offers you the chance to buy a share of your home (from 25% to 75% of its value) and pay rent on the rest. In the future, you can buy a larger share when you can afford to.
This scheme is available if your household earns £80,000 or less outside London (or £90,000 or less inside) and if you are a first-time buyer, or you used to own a home but can’t afford to purchase one now, or you are an existing shared owner and you want to move.
We are an approved Help to Buy broker. This means that we offer you:
At Compass Personal Finance, we are very excited about these initiatives and would like to help as many people as possible to take advantage of them. If you think that Help to Buy could be of interest to you, please call David Mills today on 02380 428221 for a free, confidential and without-obligation discussion of your situation and your plans.
For a friendly, confidential and without-obligation conversation