New Help to Buy Scheme for first time buyers

New Help to Buy Scheme for first time buyers

A new version of the scheme has been launched to support first time buyers in England through an equity loan.

Help to Buy Scheme logoIn April 2013 the Help to Buy scheme was first introduced to help those buying a house (including those moving house) to buy a new-build home priced up to £600,000 with a 5% deposit.

This year the scheme has been re-launched with the view to supporting first-time buyers only. Regional price caps will also be introduced, limiting the prices developers charge for new homes.

These changes aim to reflect the government’s aim to support those who need it the most, so that more people can buy rather than rent a home. Find out more at this article by Which.co.uk >

Don’t hesitate to contact Walker Beckett Mortgages today to discuss any aspect of house buying and selling. We would love to help. For more advice about mortgages, loans and insurance get in touch with us.

Disclaimer: Please be aware that by clicking on to the above links you are leaving Walker Beckett Mortgages website. Please note that Walker Beckett Mortgages nor HL Partnership Ltd are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Return of government support to get on the property ladder announced in the Budget

Return of government support to get on the property ladder announced in the Budget

95% mortgages had virtually disappeared during the pandemic but the new scheme announced by Chancellor Rishi Sunak is set to help those potential house-buyers with small deposits by offering incentives to lenders.

The 'Boris Bounce' in the housing marketThe scheme will run from April until the end of 2022. Several of the country’s largest lenders will be offering these 95% mortgages and will be available to any ‘creditworthy’ household struggling to raise a larger deposit.

Find out more at The Guardian’s article here >

Disclaimer: Please be aware that by clicking on to the above links you are leaving Walker Beckett Mortgages website. Please note that Walker Beckett Mortgages nor HL Partnership Ltd are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Saving for a mortgage deposit

Saving for a mortgage deposit

First time buyers are saving for deposits faster but this can often be down to increased financial support from their loved ones.

Saving for a Deposit, Walker Beckett MortgagesThe Money Advice Service offers some great advice for those who are wanting to get themselves on the property ladder. 
 
Shared ownership, Help to Buy schemes or buying together with a friend or family member are some options suggested in their helpful article which can be found at https://moneyadviceservice.org.uk/en/articles/saving-money-for-a-deposit

 

For more advice about mortgages, loans and insurance get in touch with Walker Beckett. We would love to help.

RELATED TOPIC > https://www.walkerbeckettmortgages.co.uk/purchases/