Help to Buy: Equity Loan England
You can afford more than you think with Help to Buy.
With a Help to Buy: Equity Loan, the Government lends first time homebuyers up to 20% of the cost of the property, so you’ll be able to own a beautiful Story home with only a 5% cash deposit. Then you’d get a 75% mortgage to make up the rest.
This means you can afford more than you might think. The loan is interest-free for the first five years, however you will be charged a small £1 admin fee every month. The loan can be paid back at any point or upon the sale of your home. Please note that Help to Buy is available subject to eligibility, terms and conditions.
Help to Buy: Equity Loan example on a £180,000 Story home: