Help to Buy
Ailes Mortgage Solutions will take the complications out of the process. You will be surprised by how easy your life becomes once you come to Ailes Mortgage Solutions, contact us to find out how Ailes Mortgages can help you reach your goal.
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up payments on your mortgage.
Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage, make sure you know what you can afford to borrow. Get in touch with us to find out where to get a mortgage, the different types and how the process works.
Help to Buy is a government scheme to help first-time buyers get a property with just a 5% deposit. You can borrow 20% of the purchase price (40% in London), interest free for five years. This scheme opens to new applications from 16 December 2020 and will run until 31 March 2023.
How does Help to Buy work?
The Help to Buy scheme offers an equity loan where the government lends first-time buyers in England money to buy a newly built home.
This must be used to buy your main residence and cannot be used to buy a second home or a buy-to-let property.
You need a deposit of at least 5% of the purchase price. You can borrow 20% (40% in London) of the purchase price. This amount is interest free for five years.
The maximum purchase price for a Help to Buy property depends on what region of England you live in. You cannot use Help to Buy to purchase a property above these limits.
Get in touch
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