Buying a home is one of the biggest and most expensive events in a person’s life. However, property is very expensive, so it is very rare that someone can afford to buy a home outright. They need a mortgage.Whether you’re a first time buyer, or looking to move house, the information linked below will help you on the path to becoming a home owner.
What is a Mortgage?
What to Look for?
Types of Mortgage
Whether you're a first-time buyer or already a property owner did you know you could buy a new home with a small deposit of 5%, with a government Help to Buy loan.
How Help to Buy Equity Loans Work?
- First time buyers and those already on the property ladder can apply.
- To qualify a 5% deposit is required.
- A 75% mortgage must be secured from your bank or building society.
- The remaining 20% of the property’s value is funded by an equity loan provided by the Government.
- House prices can’t be more than £600,000 in England and £300,000 in Wales.
Without Help to Buy
With Help to Buy
|Help to Buy Loan||£10,000||20%|