Help to Buy mortgages
With the Help to Buy Equity Loan Scheme, your client requires a deposit of at least 5%. The government then provides your client with an Equity Loan of up to 20% (or 40% under the London Help to Buy scheme) of the cost of the new build home, interest free for the first 5 years. After 5 years your client will have to pay the interest on the Equity Loan (except in Scotland).
The scheme is open both to first-time buyers and home movers purchasing a new-build property or remortgaging with a maximum purchase price of up to £600,000, from a registered developer.
The scheme is administered by Local HomeBuy Agents who assess and approve all applications.
Our Help to Buy remortgage products could help save your clients money
With over 20,000 completions during the first year of the scheme*, you may be starting to see these initial customers looking to remortgage. Our entire Help to Buy range is available for remortgage applications and we even offer ‘no fee’ options.
An alternative to a product transfer with their existing lender, our products could help save your clients money while giving you a strong line of new business.
*Department for Communities and Local Government. Statistics showing cumulative sales since the launch of Help to Buy (equity loan) scheme on 1 April 2013AVAILABLE TO INTERMEDIARIES ONLY