Help to Move


Help to Buy

Government-backed Help to Buy Equity Loan Scheme is available on all Westerhill Homes plots up to £600,000, subject to terms & conditions. Help to Buy eligible applicants will be offered an equity loan of up to 20% of the purchase price (based on open market value). The registered provider will hold a 2nd charge on the property. Applicants are required to fund 80% of the purchase price by means of a conventional mortgage, savings and deposit. Applicants must obtain their conventional mortgage from a qualified lending institution.

 

Help to Buy

Government-backed Help to Buy Equity Loan Scheme is available on all Westerhill Homes plots up to £600,000, subject to terms & conditions. Help to Buy eligible applicants will be offered an equity loan of up to 20% of the purchase price (based on open market value). The registered provider will hold a 2nd charge on the property. Applicants are required to fund 80% of the purchase price by means of a conventional mortgage, savings and deposit. Applicants must obtain their conventional mortgage from a qualified lending institution. For the first five years no interest will be charged on the equity loan component. At the start of year 6 a fee is collected of 1.75% of the market value of the property at the time the loan is entered into, multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be uplifted by RPI + 1% pa.