Help to Buy Mortgage Advice in Leeds
Help to Buy Schemes | Mortgage Broker in Leeds
Mortgage Advice in Leeds | How can Help to Buy help you?
Top up your deposit with a 20% Interest-Free Loan Mortgage Advice in Leeds available.
Since the introduction of the Governments Help to Buy scheme back in 2013, the number of First-Time Buyers starting to climb the property ladder has increased. We’re very experienced in this area, with experienced Mortgage Advisors in Leeds who are always happy to answer your questions regarding this scheme.
The video below is from the Government Help to Buy website and explains the Help to Buy Scheme in a simplified manner.
How the Scheme Can Help
With a Help to Buy: Equity Loan, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
Example: for a home with a £200,000 price tag
If the home in the example above sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.
For more information (including advice on fees and paying back your loan) please download our Help to Buy Buyers’ Guide (PDF).
If the home in the example above sold for £200,000, you’d get £160,000 (80%, from your mortgage and the cash deposit) and you’d pay back £40,000 on the loan (20%). The mortgage would be paid off with your share of the money.
We take a great deal of pride in the service we provide to our customers as we take them through the process. Our customers best interests are always at the heart of our business and we always aim to go above and beyond for our customers.