London Help to Buy
Help to Buy is a government scheme launched in February 2016 which can help first time buyers wanting to own a newly built home. The scheme offers an equity loan - the government lends first-time buyers and existing homeowners money to buy a newly-built home.
London Help to Buy is an extension of the existing Help to Buy loan scheme designed specifically for London homes and buyers.
The scheme applies to new built London homes worth £600,000 or less and is available to first time buyers and home movers.
Under the scheme, the government lends up to 40% of the purchase price, 5% is the deposit and the rest 55 % is covered with a mortgage.
There is no interest fee on the government’s equity loan for the first five years. In the sixth year, the interest rate is 1.75%. After then, the fee rises by inflation based on the Retail Prices Index, plus 1% each year.
Originally, the scheme was due to finish in April 2021, but will now end in March 2023 - a two year extension unveiled in the last Budget of October 2018.
Chase Evans have an up-to-date list of London developers and housebuilders registered with the Help to Buy Scheme.
Our New Homes specialists are based across seven offices, have excellent relationships with the new homes’ builders and are located nearby some of London's most in-demand developments.
Contact Chase Evans today and you could be in your dream home quicker than you may think!
To register your interest:
Email firstname.lastname@example.org , or call us today on + 44 (0)20 7247 3888 and speak to one of our experienced sales advisors.
CLICK HERE to find out more about London Help to Buy