Buying your new home through Green & Co could be closer than you think thanks to the Government’s Help to Buy scheme, which provides support for first time buyers trying to get on the housing ladder, as well as existing homeowners looking to upsize to a new property.
What is Help to Buy?
A mortgage supported by the Help to Buy mortgage guarantee scheme works in exactly the same way as any other mortgage, except that the Government offers lenders the option to purchase a guarantee on mortgage loans. Because of this support, participating lenders are able to offer home buyers more high-loan-to-value mortgages, up to 95%.
In order to be eligible for a Help to Buy mortgage you must:
- Have a deposit of at least 5%
- Be looking to buy a home worth £600,000 or less
- Be purchasing a property you intend to live in most of the time
- Not let out the property or use it as a second home
- Be looking for a capital repayment mortgage
To see if you could take advantage of Help to Buy call Green & Co’s Financial Services team on 0121 323 4999 or e-mail firstname.lastname@example.org.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Green & Co will charge a fee of £199 for arranging your mortgage if it is a residential purchase and £495 if it is a buy to let or let to buy.