Help to buy

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mortgage_helpline_help_to_buy_logoIntended to help people buy their first house or move up the housing ladder, the Government's Help to Buy initiative enables those who qualify to buy a new-build home priced at up to £600,000 with as little as a 5% deposit, subject to status.

Help to Buy: Equity Loan

This scheme is only available if you're buying a new-build home. The Government lends you 20% of the cost of your new-build home, so you only need a 5% cash deposit and a 75% mortgage to make up the rest.

There are no interest charges or fees on the Government's 20% loan during the first five years of you owning the property.

Help to Buy London

To reflect the current property prices in London, from 1st February 2016 the Government will increase the upper limit for the equity loan it gives new home buyers within Greater London from 20% to 40%.

With London Help to Buy you’ll need to contribute at least 5% of the property price as a deposit, the Government will give you a loan for up to 40% of the price and you’ll need a mortgage of up to 55% to cover the rest.

The following lenders are now actively involved in lending for London Help to Buy: Barclays, Lloyds, Nationwide, Aldermore, Precise, Nat West and Leeds Building Society.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISITING LENDER IF YOU RE-MORTGAGE.

WE CHARGE A FEE FOR THE SERVICES WE OFFER IN RELATION TO THE ADMINISTRATION OF YOUR MORTGAGE APPLICATION. THE AMOUNT YOU PAY WILL DEPEND ON YOUR CIRCUMSTANCES BUT IS TYPICALLY £499. FEES ARE PAYABLE ON APPLICATION AND ARE NON-REFUNDABLE. WE WILL RECEIVE COMMISSION FROM THE LENDER WE PLACE YOUR MORTGAGE WITH AND WE WILL ALSO RECEIVE COMMISSION FROM THE INSURER IF YOU TAKE PROTECTION WITH THEM.

Mortgages are subject to status, valuation and lender criteria and are not available to persons under the age of 18.

Torc24 is a trading name of Spaull Ltd which is registered in England and Wales under company number 2509770, Registered Office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN. VAT Registration Number is 500 2481 05.
For the activities of advising on regulated mortgages and non-investment insurance contracts Spaull Limited is an appointed representative of Connells Limited which is authorised and regulated by the Financial Conduct Authority. Connells Limited's Financial Services Register number is 302221. Most buy-to-let mortgages are not regulated.

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