A – priced £600,000 or less.
B – your main home (you can’t use Help To Buy to buy as a second home or as a buy-to-let property).
C – there are no income restrictions.
The government will provide a loan for up to 20% of the price, this loan is interest free for 5 years. You only require a 5% deposit.
Purchase Price of property = £100,000
Government equity share = £20,000
The share of the property you are buying is £80000
You require a deposit of £5000
In London this is now up to 40% deferred.
Mortgage Solutions Barnsley Limited is an appointed representative of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.
Your home may be repossessed if you do not keep up repayments on your mortgage!