Help to Buy Mortgage Advice in Durham

Mortgage Advice in Durham

Help to Buy in Durham

The whole home buying process can be full of surprises and quite intimidating, especially if you’ve never done it before. It’s our job there to support you through the whole process, talk you through what happens and when and always be at the other end of the phone when you need us. When buying a new home, things don’t always go the way you want them to, that’s why having an expert Mortgage Broker in Durham on your side will be beneficial.

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Help to Buy Mortgage Advice in Durham

The Help to Buy Equity Loan Scheme is designed to help both First Time Buyers and Home Movers in Durham buy a new home, with a 5% deposit. Here are the main facts regarding the Equity Loan Scheme:

  • There is a minimum of a 5% deposit required
  • Up to 20% of the property’s value is an equity loan from the Government
  • The rest is taken out as a Help to Buy Mortgage. I.e. 5% deposit, 20% equity loan, 75% mortgage

Here is an example of a home with a £200,000 price tag and how much the government would loan you:

Help to Buy: Equity Loan scheme Example

Help to Buy – Do you qualify?

If you are wanting to go down the Help to Buy route, we will see if you qualify for the scheme before taking any further steps. Help to Buy Equity loans are only available on newly built homes up to the value of £600k. Remember, this scheme is available to both First-Time Buyers and Home Movers, it just relies on the property and you matching the criteria.

You must not own any other property at the time you buy your new home with a Help to Buy Equity Loan. Also, you need to remember subletting and part-exchange is not allowed.

Why should you choose us as your Mortgage Broker in Durham?

We have years of valuable mortgage experience and we apply all of this to every situation we come across. We have dealt with thousands of Help to Buy mortgage cases and we can’t wait to help you with yours. All you need to do it get in touch with one of our Expert Mortgage Advisors in Durham. Receive a Free Mortgage Consultation in Durham today.

Help to Buy Mortgage Advisor in Durham

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Mortgage Advice Durham Open & Honest Mortgage Advice in Durham & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

Durhammoneyman – Portland House, Belmont Business Park, Durham, DH1 1TW

The Financial Conduct Authority does not regulate most buy to let mortgages.

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