HELP TO BUY AT BRENTFORD LOCK WEST
TAKE ADVANTAGE OF DEPOSITS FROM AS LOW AS 5%*
With Help to Buy you will need a minimim 5% deposit.
On Help to Buy London the Government will lend you up to 40% of the value of a property in the form of an equity loan. The equity loan is for a maximum of 25 years or before if the property is sold or the mortgage is redeemed, whichever term is the shorter of the two.
You then need to secure up to a 55% mortgage from a bank or building society.
Equity loans are available to first time buyers as well as homeowners looking to move.
The scheme covers applicable new build properties up to the value of £600,000.
You will not be charged any interest on the 40% loan for the first five years of owning your home. However a management fee of £1 a month will be applicable from the date of purchase. From year six, a fee of 1.75% is payable on the equity loan, which rises annually by RPI (Retail Price Index) inflation plus 1%.
For more information please speak to a Mortgage Advisor or our sales team at Brentford Lock West