What is a Help to Buy Equity Loan?
A Help to Buy equity loan is a loan from the government. They will lend you up to 20% of the property price so you will only need a 5% cash deposit and a 75% mortgage to cover the rest of the property’s value.
Enter your property value
Property value: (Max £224,400)
Who are Help to Buy Equity Loans for?
The Government’s Help to Buy Equity Loan scheme makes it easier for first-time buyers to purchase their first property. To be eligible for a Help to Buy loan, the home you want to buy must be a new build property worth up to £224,400 and your only residence.
What are the benefits of a Help to Buy: Equity Loan?
Buy a home with a small deposit
You only need to save a 5% deposit to get a mortgage so you could be purchasing your first home sooner than you thought.
Borrow interest-free
For the first five years, you do not pay any interest on your Help to Buy loan. In year six, the loan fee begins at 1.75%.
Upgrade to a larger property
If you already own a home, you can use Help to Buy to upgrade to a larger property because you only need a 5% deposit
Cheaper mortgage rates
As you are only borrowing 75% from the mortgage lender, opposed to 95%, your mortgage interest rates will usually be cheaper.
How to access a Help to Buy: Equity Loan
You can apply for a Help to Buy: Equity Loan from a Help to Buy agent in the area you want to buy in. You can find the agent for properties in the North of England here. They will ensure you are eligible for the scheme and assess whether you will be able to afford the repayments on your mortgage and equity loan.
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Benefits of buying a Blueoak Home
Blueoak Estates is an award-winning housebuilder dedicated to creating homes and apartments which are distinctive by design with luxury finishing touches to suit a modern lifestyle.
Bespoke Homes
Crafting beautiful spaces where memories are made.
Handpicked Locations
Building in the most enviable locations in the North West.
Luxury Specification
Featuring quality brands such as Velux, Silestone and Bosch.
Building Standards
Protecting our environment and embracing sustainability.
Healthy Homes
Prioritising fresh air and daylight in every Blueoak scheme.
Eco-conscious Construction
Reusing and recycling energy efficient materials where possible.