LAST DATE FOR RESERVATIONS ON THE CURRENT HELP TO BUY EQUITY LOAN SCHEME IS TUESDAY 15TH DECEMBER.
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.
On 1st April 2021, a new Help to Buy Equity Loan (2021-2023) for first time buyers only replaces the current scheme. To buy a home with the current scheme, you must reserve it by 15th December 2020. You must legally complete your home purchase by 31st March 2021, to be able to get the equity loan funding. Help to Buy: Equity Loan (2021-2023) is subject to eligibility, terms & conditions.
Click here for further information https://www.helptobuy.gov.uk/equity-loan/equity-loans/