Help to Buy

Help to buy – The new Government scheme from Jan 2014 to help first time buyers and home movers purchase new build or existing properties.

Great news! New Buy, The Mortgage Guarantee Scheme is due to roll out in January 2014. This is a new initiative from the government that can assist purchasers buying a residential property, up to B#600,000.

The scheme works like this:

You, the client, put down a minimum of 5% of the purchase price. The government then provides an interest free loan of 20% of the property purchase price and the mortgage lender then provides the shortfall of 75%.

There is no interest to pay on the 20% for a period of the first five years, then, in year six, it is a nominal 1.75% per annum followed by a yearly charge of 1% above the retail price index.

This is a splendid opportunity for those looking to move, who have been unable to do so thus far. These figures are indicative and subject to government confirmation but it looks like a super scheme, and not one to be missed!

The scheme is available to new build and existing properties.

There is a huge amount of interest in this new Help to Buy scheme as it is not restricted to solely new build properties. Lenders are frantically creating new mortgage products so donbt leave it too long to get involved. Prices are predicted to rise early next year so donbt let yourself be one of those left behind…

Get onto the housing ladder NOW, with Central Mortgages using the Help to Buy scheme. Contact one of the team to discuss your new home today!! 01277 630183

Central Mortgages (Essex) Ltd b 01277 630183 info@centralmortgages.net.

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