A Helping Hand
If you’re looking for a helping hand to purchase a home, the Help to Buy Equity Loan could be exactly what you need. At Laurus Homes, we believe everyone deserves a special place to live, which is why we’re here to help you take advantage of this scheme to buy our houses and apartments on a range of our developments.
Provided by the government, Help to Buy Equity Loans are available only on newly built homes. Through this scheme, the government will lend you up to 20% of the cost of your chosen home. You’ll then need a deposit of 5% and a 75% mortgage to cover the remaining 80% of the cost. The purpose of the loans is to lower the upfront cost to you of buying a home.
For the first five years after you’ve made your purchase, you won’t have to pay any fees on the 20% loan provided by the government.
These Equity Loans are available to people looking to buy their first house and get a foothold on the property ladder, as well as to existing homeowners who want to move. However, if you own another home in addition to the one you’re looking to buy, you must sell it before completing your purchase of a help to buy home. The loans are available on new builds up to a value of £600,000.
You can find out more about the loans by speaking to your local government-appointed Help to Buy agent, or you can get in touch with us for further details. Our friendly and knowledgeable team will be happy to explain in detail how this scheme can make our homes more accessible.