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Help To Buy London

You could receive a Government equity loan with the London Help to Buy scheme

The London Help to Buy 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.

So 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, Leeds, Lloyds, Nationwide, NatWest, Newcastle, Royal Bank of Scotland, Santander, Teachers and TSB offer London Help to Buy.

 

Who is eligible?

London Help to Buy equity loans are available to first time buyers as well as homeowners looking to move. 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.

Help to Buy Mortgage Calculator

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.

Enter your details below

Property value (max. £600k)

Your deposit (min. 5%)

What is the length of your mortgage

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Interest rate

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Help to buy loan value (40%)

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Monthly payments

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Note: From March 2020 the scheme will only be available to First Time Buyers.

How to apply

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:

Email: stratford.sales@telfordhomes.london
Call: +44 (0)20 3538 3394

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