Help to Buy is a Government backed initiative aimed at making new homes more affordable to first time buyers and existing homeowners alike. With it you could purchase a new Perbury home with as little as a 5% deposit.
There are currently two variations of the Help to Buy scheme – 'Equity Loan' and 'Mortgage Guarantee'. Equity Loan is only available to people looking to buy a new property, whilst the Mortgage Guarantee covers both new builds and existing homes. Both routes offer you the opportunity to reduce the size of your deposit and potentially secure a more competitive mortgage rate.
Am I eligible?
Help to Buy is available to both first-time buyers and existing homeowners
You must be an individual purchasing your new home to live in – so you wouldn't be eligible if you were looking for a second property or buy to let
Equity loans via Help to Buy are available on new homes valued up to £600,000
You must have a deposit of at least 5% of the purchase price
We think this video from Help To Buy South explains the Equity Loan scheme well – click here to view