Help to Buy
Need ‘help to buy’ a new home in Gravesend?
Great news for home buyers, the ‘Help to Buy’ scheme recently introduced by the Government could make moving to a new home in Gravesend easier AND more affordable.
The scheme is available to all, not just first time buyers, and means that you’ll only need a 5% deposit to buy a new home. What’s more the Government will provide an equity loan of up to 20% of the purchase price, interest free for the first 5 years, all of which helps to make your monthly mortgage repayments more affordable. Here’s how it works:
o Purchase price of £200,000
o Your 5% deposit = £10,000
o Government equity loan* = £40,000
o 75% mortgage = £150,000
All of the new homes at our Horizon development, in Gravesend, fall within the £600,000 maximum price limit. And best of all, with ‘Help to Buy’ you’ll still own 100% of your new home.
The scheme is already proving to be extremely popular, so what’s stopping you? Contact the Marketing Suite today for more information or click here to start your new home search.
The scheme has a few special requirements:
o It is available to UK citizens and those with a right to remain indefinitely in the country;
o It covers full home ownership only, so is not available for shared equity or shared ownership;
o Available for the purchase of a primary home, not for second homes or investment/buy-to-let purchases;
o It only applies to capital repayment mortgages, not interest-only mortgages;
o Buyers must not be receiving help with their deposit from a local authority or other public body;
o HomeBuy agent check required.
*20% loan is interest free for the first 5 years. 5% deposit is applicable with the Government’s Help to Buy scheme. Calculation above is indicative only. Available on selected plots only. Buyer will need to have sufficient funds to pay legal and sundry costs. Equity deposit percentage may be subject to lender’s and Government criteria. Prospective buyers should always seek independent financial advice before proceeding. Countryside Properties works with a number of independent financial advisers who are able to provide appropriate advice. Countryside Properties terms and conditions apply. Subject to status.