If you’re keen to buy a brand-new place of your own but financially, it feels a bit out of your reach, the government’s Help to Buy scheme could be the answer.

Available to first-time buyers only, the scheme helps you buy a new-build home with just a 5% deposit, which the government then tops up with a 20% equity loan. That means you’ll only need a 75% mortgage, which also gives you access to a wider range of lenders.

Suddenly your dream home just got a step closer to reality…

To qualify for the Help to Buy scheme you must be a UK resident and meet the mortgage affordability criteria – typically 4.5 times your combined gross income (if buying jointly) minus the cost of any credit commitments.

If you’re looking to purchase a home in the South West – Help to Buy is available on homes up to the value of £349,000 while in the East and South East the scheme could enable you to buy a home valued up to £407,400 and £437,600 respectively.

The 20% equity loan lasts for 25 years and can be paid back as early as you like. It’s interest-free for the first 5 years, after which time you’ll need to pay the interest of 1.75% of the initial loan amount - so it’s a good idea to do all your sums beforehand.

What’s especially good about the Help to Buy loan is that you only pay back what the value of that equity is worth. So, if your house value drops, you pay less back and if it increases, the additional equity can be used to pay back the loan.

The other great thing about the Help to Buy scheme is that you’ll own 100% of your home.

Our spacious, modern homes – with fully fitted appliances, your own private outdoor space and easy access to shops, restaurant and leisure facilities – are perfect for first-time buyers.

If you’re ready to step onto the property ladder with Help to Buy, simply get in touch.

 

 

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We lead the way in delivering outstanding homes that respect the environment, while remaining inexpensive to live in. 

From Inverness to Truro, with ZeroC you can be sure of the right home in the right place.

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