The Government incentive, which offers a 20% equity loan, means that buyers only have to put down 5% deposit. And the best part is; you still own 100% of your home! More than one third of all Story Homes’ buyers in the past year have used the Help to Buy incentive.
Help to Buy uses a 20% equity loan from the Government’s Homes and Communities Agency (HCA) to top up your 5% deposit, meaning that you need just 75% secured on your mortgage. The equity loan is interest free for five years and you can pay it back at any time or on the sale of your home.
Louise McGuckin, Head of Sales at Story Homes said: “We launched the Help to Buy scheme almost one year ago and we have seen lots of happy customers who have been able to get their foot onto the property ladder, or upsize to a bigger homes than they could previously afford to buy. Customers are seeing this as a great opportunity to make their new home realistically affordable. Some of them have been trying to save a deposit to buy a new home for a long time and Help to Buy has given them the opportunity to finally own their own brand new Story Home.”
Click here to read more about Help to Buy.
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