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Help to Buy
We do accept applications using the Help to Buy scheme in England & Wales only.
What is the current Help to Buy scheme?
First-time homebuyers who meet the Help to Buy affordability and lending terms can borrow an equity loan of up to 20% (40% in London) of the sale price of a new build home.
The maximum purchase price depends on which region the property is in:
- North East £186,100
- North West 224,400
- Yorkshire and the Humber £228,100
- East Midlands £261,900
- West Midlands £255,600
- East of England £407,40
- London £600,000
- South East £437,600
- South West £349,000
You must fund at least 80% (60% in London) of the sale price with a mortgage and at least a 5% deposit.
For further information, go to HM government website.
To ensure that the loan is affordable, you will be required to add an additional commitment (2% of the equity loan on an annual basis) under ‘other’ commitments, which will be included within our affordability calculations.
The equity loan provider would be permitted to have a second charge on the property. No other charges will be permitted.
Help to Buy Remortgages
- We accept applications in England and Wales only.
- We allow capital raising repay a Help to Buy loan