Thursday, 10 August 2017

Act fast to get Help to Buy?

The government’s Help to Buy scheme allows you to own 100 per cent of a new Larkfleet home with just a 75 per cent mortgage and a 5 per cent deposit. The remaining 20 per cent of the purchase price is paid for through an equity loan from the government (subject to approval).

The scheme is not only open to first-time buyers – anyone can benefit. There are details on our website or talk to one of our sales advisors for more information.

However, you may need to be quick to take advantage of Help to Buy. National newspapers say that the government has embarked on a review of the scheme, which could result in it being wound down or replaced before its scheduled end in April 2021.

Help to Buy was launched by then Chancellor George Osborne in April 2013 in an attempt to make buying a home more affordable. However, research conducted for the government found that 57 per cent of those who signed up to it said they could have afforded to buy without access to the scheme.

So new Chancellor Phillip Hammond may – say the newspapers – change or scrap the scheme in the Budget in November 2017.

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