QI’m hoping to buy my first home later this year, are there any Help to Buy schemes currently available?
AJo Winston, Sales Director at St Modwen Homes, says…
Purchasing a property can feel incredibly daunting for first-time buyers, so it’s worth doing as much research as you can, taking advantage of expert advice to make the process as smooth as possible. For those struggling to save for a deposit, look into the Help to Buy Equity Loan. The scheme is available exclusively to first-time buyers on new-build homes only, and is available across selected St Modwen Homes developments. This government-run scheme helps first-time buyers purchase a property with just a five per cent deposit (applications are open until 31st March 2023). Providing you’re eligible, you’ll be offered an equity loan of up to 20 per cent of the cost of your home (40 per cent in London), interest-free for the first five years. This means that you’ll only need a five per cent deposit and 75 per cent mortgage to make up the restfl The costs involved with the Help to Buy scheme vary depending on where in the country you’re purchasing. For more information on the regional price caps, head to the St Modwen Homes website.
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