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Help to Buy

Help to Buy is a Government-backed scheme which helps first-time buyers and existing homeowners purchase a home with as little as 5% deposit.

There are a few ways to purchase a property with Help to Buy and Aurora Living:

EQUITY LOAN

The Help to Buy Equity Loan scheme is open to both first-time buyers and existing homeowners. There is no income cap for applicants and you can buy a new-build property with a value of up to £600,000. The scheme helps you to buy your home with an equity loan of up to 20% of the full price of the property. You won’t have to pay any interest charges on this loan for the first five years and you own 100% of your own home from the start.

HELP TO BUY ISA

If you are saving to buy your first home, save money into a Help to Buy: ISA and the government will boost your savings by 25%.

FORCES HELP TO BUY SCHEME

The Forces Help to Buy scheme is designed to help Regular Service Personnel with the cost of buying a home. For more information please contact the Joint Services Housing Advice Office (JSHAO) on 01252 787574 or e-mail: aws-jshao-mailbox@mod.uk

WHO IS ELIGIBLE?

A mortgage under the Help to Buy: Equity Loan scheme works like any other mortgage.

To qualify:

  • The property can be an existing or new build home in the UK
  • Open to both First Time Buyers & Existing Homeowners
  • Your mortgage must be a repayment one, not interest only.
  • You cannot let the property
  • Cannot be combined with any other Government scheme.
  • The home must not exceed the value of £600k

See more on the Help to Buy website

buying-schemes-help-to-buy

 

  • Equity Loan

     

    The Help to Buy Equity Loan scheme is open to both first-time buyers and existing homeowners. There is no income cap for applicants and you can buy a new-build property with a value of up to £600,000. The scheme helps you to buy your home with an equity loan of up to 20% of the full price of the property. You won’t have to pay any interest charges on this loan for the first five years and you own 100% of your own home from the start.

  • Mortgage Guarantee

     

    The Help to Buy: mortgage guarantee scheme has closed to new loans as of 31 December 2016 as planned. A wide range of 95% loan-to-value mortgage products are available from commercial lenders.

Why buy new build

There are many advantages that come from buying a new build home. Above all, you’ll benefit from buying a house that’s been built with the latest technology currently available.

Buying process

Buying a home can be a long and complex process, but knowing what to expect should help make everything run smoothly. Just follow these simple steps to plan your big move with total confidence.