Airdrie & Coatbridge Advertiser
The first choice
If you are selling your home then there is only one place to turn - your local paper. Our property pages are the must- turn- to section for anyone selling or buying a new home. For decades our extensive range of homes for sale have been the must-buy for anyone who wants to see what is out there. We have the potential to reach thousands of readers every week - we are at the heart of every community and we have the power to reach more potential buyers than any other local paper. So make sure your estate agent isn’t missing a trick and place your property advertisement in your local paper For Sale section. Where else would you look if you were buying a new home or selling your house but your local paper’s property section? All the latest houses and flats for sale are right here in your classified section. Lorraine Howard
Now is a great time to buy your new home – with Help to Buy you could find the home that’s right for you with just a five per cent deposit.
Whether you’re looking to take the first step on the property ladder or are searching for something bigger to accommodate your growing family – new is for everyone and with mortgage rates at an all-time low it’s easier to get the home you want for less.
With a Help to Buy equity loan you could find the home that’s right for you with just a five per cent deposit - the Scottish Government will lend you up to 15 per cent of the property value through an equity loan.
You’ll only need to secure up to an 80 per cent mortgage from a bank or building society, making that first step a little easier.
For 2016/17 the maximum property value is £230,000 with the Help to Buy (Scotland) Affordable New Build Schemes.
The main Help to Buy (Scotland) Affordable New Build Scheme is available to larger homebuilders while the Help to Buy (Scotland) Smaller Developers New Build Scheme is available to smaller home builders. The rules to both schemes are identical and the agents administering the schemes will identify which scheme your application is to be processed under.
The schemes are only available on new build homes from participating home builders and on homes up to a maximum value of £230,000 for purchases which complete on or before 31 March 2017 and £200,000 for purchases on or before 31 March 2018.
Your mortgage lender is likely to require you to contribute a deposit of around five per cent, your mortgage and deposit must cover a combined minimum 85 per cent of the total purchase price.
Your mortgage from one of the participating lenders must be a repayment mortgage, of at least 25 per cent and cannot be an interest-only first mortgage; the Scottish Government will help buyers to purchase the property by taking an equity stake of up to a maximum 15 per cent of the value of the property; no annual interest is charge on your equity stake; the Scottish Government’s equity stake can be repaid at any time and is based on the value of the property at the time of the repayment; the scheme is only available to those who are unable to afford to purchase the property without the Government purchasing an equity share there are currently eight participating lenders offering mortgages for the Help to Buy (Scotland) Affordable New Build schemes, please contact them to check what their lending criteria is.
If you are interested in the scheme, you should read the information leaflet for buyers which will provide you with important information on how the scheme operates.
Once you have read the information leaflet, you will need to search for Help to Buy Affordable New build homes that are for sale by a participating home builder.
You should also speak to an Independent Financial Advisor, good advice could save you money and a lot of worry.