Help To Buy Equity Loan Scheme

The Help to Buy Equity Loan Scheme is a Government backed programme designed to help people who have smaller deposits to buy a newly built home in England. The scheme is managed by the Homes and Communities Agency (HCA) who are the national housing regeneration agency for England. Principal criteria for this type of purchase:

• First time buyers and home movers
• House and flats
• New build only (on appropriate developments)
• 5% cash deposit required
• Value up to £600k
• Primary residence only

Purchase is made of up of a 5% cash deposit, 20% equity loan (from HCA – interest free for 5 years) and 75% mortgage.

Call Richard Ake at Mayfield Mortgages on 01937 229 800 to find out more.