Help To Buy Equity Loan

08/02/2017

With a Help to Buy Equity Loan the Government lends you up to 20% of the cost of your newly built 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.

If the home in the example above sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.

If you would like more information on the above article or advice on your personal financial circumstances, please contact us >>

Written by Claire Allison | Mortgage Consultant

Claire joined Mantle Financial Planning in 2001 having worked in the travel industry for several years. Read more >>

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