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A Help to Buy equity loan can provide extra money for the deposit you’d like to put towards a new home. If you have a 5% deposit, through the Help to Buy equity loan scheme, you may be able to borrow up to an additional 20% (or 40% in Greater London) of the purchase price of your home. Then you’d be able to apply for a mortgage of up to 75% (or 55% for Greater London).
All Help to Buy shared equity loans are interest free for five years. After that, you’ll need to pay a monthly interest fee on top of your monthly mortgage repayments. If you sell your property you’ll need to repay any outstanding balance on your equity loan as well.
If you’re interested in finding out more about Help to Buy, Mortgage Advice Bureau’s advisors can help you. Simply call 01664 494100 or visit our Mortgage Advice Bureau website.
To book an appointment please call 01664 494100 or take a look at our Mortgage Advice Bureau website where you can also see the latest deals, access mortgage calculators, meet the team, get expert advice and much more.
Following the Bank of England Base Rate increases, our Standard Variable Rate is due to increase from 4.99% to 5.39% with effect from 1st June 2022.
Please also bear with us as our telephone lines will be busier as we help our customers