Help to Buy: Equity Loans

How does it work?

Help to Buy: Equity Loans

How does
it work?

Overview

Help to Buy: Equity Loan, is a loan from the government that you put towards the cost of buying a newly built home in England
You will need to have a deposit of at least 5% of the purchase price and a deposit
You can borrow between 5% and 20% of the price of a new-build home
The maximum property price is the full purchase price which is £349,000 in the South West
When you take out an equity loan, you do not pay interest for the first 5 years
When you repay your loan in full or in part, the amount you pay back is worked out as a percentage of the market value, at the time you choose to repay

To be eligible for Help to Buy from April 2021:

You must be a first-time buyer

The new build home you buy must be priced at £349,000 or under in the South West

You and anyone you’re buying a home with must not own a home or residential land now or in the past in the UK or abroad

Those buying a home must not have had any form of sharia mortgage finance

A joint application will need to be made if applicants are married or in a civil partnership

If you wish to apply for a Help to Buy: Equity Loan then please contact us

0345 140 5050 | sales@curo-group.co.uk

If you make a fraudulent claim for a Help to Buy: Equity Loan you may be liable to criminal prosecution. You will also have to pay back the equity loan.

Help to Buy: Equity Loan is exempt from regulation by the Financial Conduct Authority.

Your home may be repossessed if you do not keep up repayments on your repayment mortgage, equity loan or other loans secured against it. Consider seeking independent finance advice before making any financial decisions.