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LATEST NEWS

London Help to Buy Equity Loan at a glance: The good, the bad and the…it’s actually not that dramatic!

12th August 2018

Help to Buy (London) is a scheme through which first time buyers and home movers on new build homes could borrow up to 40% of their purchase price from the Government. The buyer will need to be able to contribute at lease 5% of the property as a deposit, with a mortgage of up to 55% to cover the rest.

The Loan is granted for a maximum of 25 years and no interest is charged for the first 5 years of owning the new home, there is however a £1 monthly management fee that will be applicable from completion of the purchase.

If you find the perfect property, and all the numbers add up, it is a great way to get onto the property ladder. One of the downsides however, is that in order to qualify, the property has to be a new build property, therefore, depending on where you’re looking, you may not be able to find a qualifying property to buy.

Another downside is that when you come to sell, the government will benefit from any rise in value of the property as you will have to repay the same percentage of sale proceeds as the percentage they lent on the purchase price.

In the grand scheme of things, I think we can all agree that the pitfalls are actually not so bad and the equity loan is more of a help than a hindrance. If you are considering purchasing with the help of the HTB Loan, we have a team with a wealth of experience that would be happy to help.

Do not hesitate to call us on 020 3475 4321.

RECENT NEWS
London Help to Buy Equity Loan at a glance: The good, the bad and the…it’s actually not that dramatic! 

Help to Buy (London) is a scheme through which first time buyers and home movers on new build homes could borrow up to 40% of their purchase price from the Government. The buyer will need to be able to contribute at lease 5% of the property as a deposit, with a mortgage of up to […]

Spouse Visa 

On or before 8th July 2012 a non-EEA spouse of a British Citizen was able to successfully satisfy the maintenance requirements set by the Secretary of State for the Home Department (‘the SSHD’) under Paragraph 281 of the Immigration Rules, amongst other requirements, in order to be granted entry clearance/leave to enter the United Kingdom […]

Lawful Long Residence 

Any applicant who has continuously been resident in the UK lawfully for a period of 10 years or more is eligible to apply for indefinite leave to remain in the UK (‘ILR’). One of the critical parts of satisfying Paragraph 276B of the Immigration Rules is the requirement for the applicant to prove that he/she […]

RIGHT TO WORK SCHEME / CIVIL PENALTIES 

Employers who employ any employees over the age of 16 in any part of the United Kingdom under a contract of service or apprenticeship are legally bound by the Right to Work checks that must be carried out. Home Office: Code of Practice on preventing illegal working: Civil penalty scheme for employers prescribes that employers […]

Energy Performance Certificates 

Energy Performance Certificates April 2018 welcomed the minimum energy efficiency standard obligation for all Landlords. Beginning 1 April 2018 all properties rented out must have a minimum energy performance rating of E on their Energy Performance Certificate (EPC). The regulations apply to all new tenancies from 1 April 2018 and for all existing tenancies from […]

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