London Help to Buy scheme could help you realise the dream of
owning your own home in the capital. The Help to Buy scheme is an equity
loan provided by the Government. They lend you up to 40% of the cost of
your new build home, so you will need a minimum 5% deposit and a 55%
mortgage to make up the rest.
For this scheme you must have a mortgage, which will be a first charge, as
the equity loan can only be a second charge. 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.
*Terms and conditions apply. Minimum 5% deposit subject to lenders requirements and eligibility. Prices correct at time of going to production. New homes buyers wishing to take advantage of the ‘Help to Buy’ scheme will need to qualify with a mortgage lender in the usual way and be subject to the lender’s normal assessment criteria. ‘Help to Buy’ equity loan is subject to status. ‘Help to Buy’ conditions apply and applications are subject to scheme approval. Your home is at risk if you do not keep up mortgage repayments or any other debts secured on your home.