Help to Buy Mortgage Advice in Leicester
Across All Schemes
The Help to Buy Schemes has created a positive impact for First Time Buyers looking to get onto the property ladders. At this moment in time, there are numerous options to choose from, depending on if you are eligible.
If you are wondering which scheme would be fitting for your circumstances, this is when we, as an open and honest Mortgage Broker in Leicester can help by keeping you up to date on the different eligible schemes for you.
As mentioned, not all schemes are available to you because it’s likely you will only qualify for certain ones. With a Mortgage Advisor in Leicester by your side, you can find out which ones is eligible to you before you begin the application process.
How does the Help to Buy Equity Loan Scheme work?
Many First Time Buyers in Leicester wanting to get onto the property ladder have benefitted from the Help to Buy Equity Loan Scheme. This used to be available to homeowners looking to move home, however, as of 2021, this is no longer an option.
Check out the facts below to find out how the Help to Buy Scheme works:
-A deposit of 5% minimum is required
-A maximum of 20% of the property’s value will act as an equity loan from the Government.
-The balance left over will be covered by a mortgage
How do you qualify for the Help to Buy Scheme?
Our tailored service can help you determine whether or not you qualify for the scheme. Help to Buy Equity Loans apply to new-build properties up to a maximum value, this is dependent on where you are located in England.
Help to Buy Shared Ownership
You can buy a share in a property through the Help to Buy Shared Ownership Scheme. The percentage can vary between 25% and 75%. Depending on circumstances, you may the choice to purchase as little as 10%. The remaining percentage will be covered through you paying the rent.
Here at Leicestermoneyman, we can provide open and honest Help to Buy Mortgage Advice in Leicester across all schemes. If you are looking to find out more information regarding the Help to Buy Schemes available to you as well as the most common Help to Buy mortgage scenarios look at the information below.
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