Help to Buy Equity Loan scheme

By digiadmin

The Government has now announced the long awaited replacement for the current Help to Buy Equity Loan scheme which ends in England on 31st March 2021. The full details can be found here. Key points are:

  • First Time buyers only (never owned a property every before)
  • There are regional price caps to be aware of
  • 5% personal deposit is still required
  • 20% Government equity stake except London it is 40%
  • Interest free for the first 5yrs
  • Overpayments of 10% sums permitted at any time
  • The loan must be repaid when the mortgage is repaid, property sold or reach the end of the loan term

 

Get in touch for more info!