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Help to Buy

Taking you through your Help to Buy options

Help to Buy

Due to the challenging economic climate and stricter mortgage lending criteria, the government created Help to Buy schemes to assist people into home ownership:

Help to Buy ISAPlease note that the Individual Savings Accounts for first time buyers ended for new accounts on 30 November 2019. If you opened a Help to Buy ISA before 30 November, you can continue to save into it until November 2029, and for every £200 you save into the ISA, the government will boost it by £50 (up to a maximum of £3000).

If you missed out on the Help to Buy ISA, you may be able to take advantage the other Help to Buy options:

Help to Buy Shared Ownership – where you can’t afford the mortgage on 100% of a home, this scheme gives you the chance to buy a share of between 25% and 75% of the home’s value. You then pay rent on the remaining share.

Help to Buy Equity Loan – for those buying brand new homes in England. The government will lend you up to 20% of the cost of your newly built home so you will only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged fees on the 20% loan for the first five years of owning your home. There are different rules for this scheme in Wales.

Our talented team of mortgage advisers at George Square can talk you through your Help to Buy options and then take care of the necessary administration for you to help you secure your home.

If you would like to discuss any of the schemes in more detail, call George Square Financial Management for a free consultation with one of our independent mortgage advisers: 0115 947 5545 or contact us online here.

Your home may be repossessed if you do not keep up repayments on your mortgage. Equity release may be arranged as a lifetime mortgage or a home reversion plan. To understand the features and risks ask for a personalised illustration.