HELP TO BUY AT BRIXTON CENTRIC
HELP TO BUY CALCULATOR
TAKE ADVANTAGE OF DEPOSITS AS LOW AS 5%*
The London Help to Buy scheme could help you realise the dream of owning your own home in the capital. The Help to Buy scheme is an equity loan provided by the Government. They lend you up to 40% of the cost of your new build home, so you will need a minimum 5% deposit and a 55% mortgage to make up the rest.
- The home you want to buy must be newly built with a price tag of up to £600,000.
- The equity loan is for a maximum of 25 years or before if the property is sold or the mortgage is redeemed, whichever term is shorter of the two.
- Equity loans are available to first time buyers as well as homeowners looking to move.
- You must not own any other property at the time you buy your new home with London Help to Buy.
- You will not be charged any interest on the 40% loan for the first five years of owning your home. However a management fee of £1 a month will be applicable from the date of purchase. From year six, a fee of 1.75% is payable on the equity loan, which rises annually by RPI (Retail Price Index) inflation plus 1%.
For more information please speak to a mortgage advisor, our sales team at Brixton Centric or alternatively you can contact the Help to Buy agent for London.