Buy a new home with just 5% deposit with Help to Buy

 

With the Government backed Help to Buy scheme, you could buy a new home with just 5% deposit. You could get an equity loan from the Government worth up to 20% of your new home, which means you only need to secure a 75% mortgage. You own 100% of your home from day one.

Move with Ease

How to use the government backed Help to Buy to afford your new Osprey home

WHAT IS
HELP TO BUY?
Help to Buy is a Government backed enquiry loan scheme that is designed to make home ownership more affordable for both first time buyers and people who are looking to move on from their existing home.

WHO QUALIFIES FOR
HELP TO BUY?
Help to Buy is available to both first time buyers and people who are looking to move on from their existing home, subject to the purchaser meeting the relevant eligibility criteria.

HOW DOES

HELP TO BUY WORK?

Help to Buy is a Government backed enquiry loan scheme that is designed to make home ownership more affordable for both first time buyers and people who are looking to move on from their existing home.

WHY IS THEIR A
HELP TO BUY SCHEME?
The government wants to help more people across the country make the aspiration of home ownership a reality. Help to Buy is aimed at increasing the supply of low-deposit mortgages and making it affordable to buy a home.

HOW DOES THE EQUITY LOAN WORK
 WITH HELP TO BUY?
The equity loan is interest free for the first five years. From year six a fee of 1.75% is payable on the equity loan, which rises annually by Retail Price Index inflation plus 1%. For examples of interest payments

WHEN WILL I HAVE TO PAY BACK MY

EQUITY LOAN?

The equity loan can be repaid at any time within 25 years (or the terms of the mortgage), or on the sale of the property.

HELP TO BUY - TYPICAL EXAMPLE

Here’s how Help to Buy could work on a 3 bedroom home worth £200,000:


You provide 5% Deposit £10,000

Help to Buy 20% Equity loan £40,000

Lender 75% Mortgage £150,000

Osprey Homes 100% Dream home

Osprey Homes, Beechwood House, 5 Arlington Court, Whittle Way, Stevenage, Herts, SG1 2FS 

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