Help to Buy mortgages, the Government wants to help more people across the country make the aspiration of home ownership a reality. You only need a 5% deposit with Help to Buy mortgage, and with changes to stamp duty this could be the right time.
How does Government Help to buy scheme work?
You'll need a 5% deposit to qualify. The Government will lend you up to 20% of the value of your property through an equity loan, which can be repaid at any time or upon the sale of your home. So you'll only need to secure up to a 75% mortgage from a bank or building society.
After all that the next big question is how much can I borrow? Lenders decide how much you can borrow according to how much you earn.
This may all seem very complex but don't worry use a mortgage broker with experience can be invaluable in helping you to navigate through the different lenders and deals. A good mortgage advisor knows all the processes involved and can help you through each step.
For more specific help and to talk through you options, call our team of expert advisers today
Whether Selling, buying take a look our compete guide to buying your home, There are so many things to think about but we will try to make the buying and selling process will be a far less stressful experience.