HELPING FIRST TIME BUYERS ACCESS THE MARKET

Talo Homes understands that sometimes buyers need extra help when purchasing their first home. That’s why we’ve been approved to offer the government-backed Help to Buy scheme to eligible buyers. The Help to Buy scheme is available to first-time buyers and other homeowners looking to move.

HOW DOES IT WORK?

Help to Buy is a simple process. Once you’ve decided which of our modern, eco-friendly properties you’d like to purchase, you put down a deposit of 5% and the government will provide you with an equity loan of up to 20% of the value of the property. The other 75% of the property’s cost will be paid off through your mortgage. The government’s equity loan is interest-free for 5 years and repayable across 25 years or on the sale of the property if earlier.

WHO CAN APPLY FOR HELP TO BUY?

The Help to Buy scheme is tailored to first-time buyers as well as homeowners looking to move, however there are certain conditions you must meet to be able to apply. The home you wish to move to must be a new-build and must have a value below £600,000. You cannot sublet your home once you have bought it, nor can you enter a part exchange deal on your old home. You must not own any other properties at the time you apply for your Help to Buy Equity Loan.

For further information, you can visit the government’s Help to Buy website or contact us here at Talo Homes. This scheme applies to new builds in England only. Other Governments including those of The Scottish, Welsh and the Northern Ireland Housing Executive run similar schemes.

Help to buy buyers guide

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