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01992 942 800 Telford Homes Ltd. accepts no responsibility for the accuracy of information displayed. | Maps are supplied by Google. | Incentives are not to be used in conjunction with any other offer.
From April 2021, a new Help To Buy: Equity Loan scheme will be launched, which will only be available to first time buyers.
As with the previous Government scheme, the London Help to Buy: Equity Loan scheme could help you realise the dream of owning your own home in the capital. When you put down as little as a 5% deposit on a newly built home, you can get a Government equity loan for up to 40% of the purchase price.
As an example, if a home sold for £500,000, you would receive a loan worth up to £200,000 (40% of the property value) to be paid back. You would be required to put down a 5% deposit, which in this case would be £25,000, and obtain a mortgage worth £275,000 to cover the remaining 55% value.
You won’t be charged loan fees on the 40% loan, or be required to start paying the loan back, for the first five years of owning your new home.
Aldermore, Bank of Scotland, Barclays, Halifax, HSBC, Lloyds, Nationwide, NatWest, Newcastle, Santander and Yorkshire offer London Help to Buy: Equity Loan.
The new scheme will run from April 2021 to March 2023.
From April 2021, the London Help to Buy: Equity Loans are available to first time buyers only. The home you want to buy must be newly built with a price tag of up to £600,000.
You won’t be able to sublet this home or enter a part exchange deal on your old home. You must not own any other property at the time you buy your new home with London Help to Buy.
For more information please visit one of our development websites.
With the London Help to Buy Scheme you can loan 40% of the purchase price from the Government, and you only need a 5% deposit. Your mortgage would make up the rest. The government scheme is available on new homes in London up to the property value of £600,000.
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Note: From March 2020 the scheme will only be available to First Time Buyers.
For more information on buying through the Help to Buy scheme with Telford Homes, please contact our sales team who will be only too happy to guide you through our Help to Buy properties:
The London Help to Buy scheme is run by the Government-appointed Help to Buy London agent. They can provide you with general information about the scheme and help you deal with your application. Visit: helptobuylondon.co.uk