Our expert advisers have both experience and knowledge in the Help-to-Buy scheme and the different mortgage options. We will help you to apply for funding, be your financial advisors, and we will also help you with the specialist criteria needed by the lenders. We do not just rely on our expertise, and that is why we provide you with full-fledged professional financial services only after we seek needful advice through a trustworthy third-party source as well. Together, we will achieve your goal in no time.
If you are a first-time buyer and are considering purchasing a property using the Help-to-Buy scheme, get in touch with us today, and we will guide you through the whole process by being your help to buy and property financial advisors.
Financial Advisor Mortgage -what Is Help-to-buy?
The Help-to-Buy government scheme is produced to aid first-time buyers to get their first mortgage.
Part of the scheme involves the government loaning you 20% of the cost of a new build home, and you will have to find only a 5% deposit and 75% mortgage. The 20% government loan won’t raise any interest in the first five years, which gives you time to settle in your new home comfortably before the payment kicks in.
Financial Advisors – How It Works?
Once you have found a property, you will apply for the loan alongside the mortgage application.
You have to be aware that:
- This scheme only applies to newly built homes up to a value of £600,000 in England.
- The scheme does not apply to buy to let properties or second homes.
- You cannot apply for an interest-only mortgage, and it has to be a repayment mortgage alongside the scheme.
- You can see the help to buy symbol on new build properties, and if you are confused, you can always ask. Most major developers are taking part in this scheme.
The scheme is not only for first-time buyers; it is also for home movers as long as this property will be their only one and as long as the criteria described above are met.
Mortgage lenders evaluate affordability in different ways for the Help-to-Buy Scheme, so you must discuss with a mortgage adviser such as ourselves first to understand more about the process and how much you will borrow.