help to buy main-logo        Help to Buy* is here to help ! 

 

Chevin Homes can help to make your move easy and as hassle-free as possible. For example, with Help To Buy you could move for as little as a 5% deposit !

The Government has created the Help to Buy scheme to help hard-working people like you take steps to buy your own home.  Whether you want to get into the housing ladder or move up it, Help to Buy makes it possible to buy a new-build or existing home priced up to £600,000 with as little as 5% deposit.

 

How does it work?

A mortgage supported by the Help to Buy: mortgage guarantee scheme works in exactly the same way as any other mortgage except that under the scheme the Government offers lenders the option to purchase a guarantee on mortgage loans.

Because of this support, lenders taking part are able to offer home buyers more high-loan-to-value mortgages (80-95%).

You will still be fully responsible for your mortgage repayments. So if you have a 5% deposit, you will need to take out and pay back a 95% mortgage.

Example: for a home with a £200,000 price tag

How it works - mortgage guarantee

- See more at: http://www.helptobuy.org.uk/mortgage-guarantee/how-does-it-work#sthash.y710Sqjh.dpuf

*Help to Buy is available on properties up to a maximum value of £600,000 in England. If you qualify for Help to Buy assistance and you raise a mortgage for at least 75% of the purchase price of your new home from a lender, you can borrow up to the remaining 20% of the purchase price by taking out a loan secured over your new home from the Government's Homes & Community Agency (HCA) over a period of 25 years. A 5% deposit is required by the lender. More may be required depending upon circumstances and your lender's criteria. Help to Buy is subject to eligibility and terms and conditions. Terms and conditions apply.