Under this scheme, the Government will lend you a further 20% of the purchase price, so you’ll only need a mortgage for the remaining 75% once your 5% deposit is factored in. If you‘re buying in London, you can apply for a government loan worth up to 40% of the property price. The property you are buying must be your main residence, not a Buy-to-Let property.
The 20% equity loan from the Government is interest free for the first five years. After this time, we will be here to help you review your options.
We can tell you if you qualify and the maximum purchase price you’d 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.
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