With just a 5% deposit needed with a 75% mortgage, see how the Government-backed Help to Buy - Equity loan scheme could help you open the door to home ownership.
The Help to Buy - Equity Loan is a Government-backed scheme exclusive to new build homes. It was set up by the Government in 2013 and has already helped thousands to make their move onto or up the property ladder.
The idea behind the scheme is that, with the Government providing a portion of the required equity in the form of the equity loan, homebuyers need to borrow less from traditional lenders, and require a smaller deposit.
With the Help to Buy - Equity Loan - a dream move into a brand new Bovis Home could be closer than you think.
By using the scheme you need just a 5% cash deposit, with the Government providing an equity loan of up to 20% of the value of the property you’re buying. You then need to secure up to a 75% mortgage which opens the door to more competitive lending rates, and may make your repayments more affordable than you first thought.
What’s more, you won’t be charged interest or fees on the Government equity loan for the first five years of owning your home, and you can choose to repay the equity loan at any time without penalty, or on the sale of your home.
The scheme is available for first-time buyers and existing homeowners alike, on new homes up to a maximum purchase price of £600,000.
So if you thought a high-quality brand new home was out of reach – think again. Come and speak to one of our sales advisors, and let’s see if we can get you moving.
Take a look at our handy Help to Buy mortgage calculator to work out your maximum purchase price, mortgage required, and estimated monthly repayments based on the deposit you have available.
For more information on the Help to Buy - Equity loan, view the Help to Buy Buyers' Guide. This explains how the scheme works with financial examples, along with details on the buying process.
The Help to Buy scheme was great! We used the recommended financial advisor who made the process so quick and easy. It took all the hassle away from trying to do it ourselves!Read their story
Our cousins live further south and they used the Help to Buy scheme and recommended it. It’s been a very straightforward initiative, the Bovis Homes sales team has been absolutely amazing.Read their story
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The Help to Buy equity loan scheme has specific terms and conditions and is subject to affordability criteria as prescribed by the Homes and Communities Agency.
Not to be used in conjunction with any other purchase assistance scheme, offer or promotion.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT