Have you heard of the government's Help to Buy initiative?
Whether you are looking to get onto the housing ladder or move up it, there are a number of Help to Buy products designed to make buying a home more affordable. These include:
Shared Ownership: new-build and re-sales
Shared Ownership is designed for those who cannot afford to purchase a property on the open market. This scheme allows you to purchase a percentage share of a property whilst renting the remaining share from the housing association selling the property. You can then choose to purchase further shares to increase your ownership of the property.
This scheme can be available on new-build and also second hand properties, which are referred to as re-sale shared ownership. These are homes previously purchased through the scheme and now looking to be sold.
The Help to Buy equity loan is designed to help you purchase specific new-build properties priced up to £600,000 from participating registered developers with as little as a 5% deposit.
The Government lends you up to 20% of the cost of your new-build home, so you'll only need to provide a 5% cash deposit and a 75% mortgage to make up the rest. You also won't be charged loan fees on the 20% loan for the first five years of owning your home.
Find out more information on shared ownership schemes available in Mole Valley.
Want to find out more?
For more information on availability locally, contact Help to Buy East and South East on 03333 214044 or see 'Internet Links ' for upcoming events. If you are interested in buying in another area, visit the Help to Buy Government website.