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Help to Buy

Help to Buy Schemes
  • ... an affordable solution to home ownership

Let Countrywide Mortgage Services give you a helping hand onto the property ladder. The Government’s Help to Buy scheme is a low cost home ownership scheme designed to help First Time Buyers or Homemovers take their first step onto, or move up, the housing ladder.

There are now two schemes available – the Equity Loan and the Mortgage Guarantee, designed to increase the supply of low deposit mortgages and New Build homes.

Equity Loan

  • You’ll need just a 5% deposit to buy a new build home, in England, with a value of up to £600,000 and £400,000 in Scotland.
  • The Government will then lend you up to 20% of the value of your new build home and the loan can be repaid at any time or on the sale of your home.
  • This means you’ll only need a mortgage of 75% Loan to Value (LTV) – which could mean a better mortgage rate than on a higher LTV!

The loan is interest free for the first five years. In the 6th year you’ll be charged a fee of 1.75% of the loan’s value. The fee will then increase every year, the increase worked out by using the Retail Prices Index plus 1%. Fees don’t count towards paying back the equity loan. You’ll also be repaying your mortgage.

Mortgage Guarantee

  • You’ll need just a 5% deposit which is available on all properties for existing homeowners and First Time Buyers, up to a maximum value.
  • The Government will then offer a guarantee up to 15% of the value of your home.
  • This means you’ll have access to low deposit mortgages ranging from 80-95% LTV, depending on your deposit.

How do I find out more?

Speak to a Countrywide Mortgage Consultant to find out more about all the options available to you, phone us today on 0800 9887 925 or request a call back to arrange an appointment with your local Mortgage Consultant who will have a wealth of knowledge and expertise in the mortgage market.

Or, alternatively, you can phone our dedicated Help to Buy information line on 0800 0149 322 for further information on Help to Buy.

Your home may be repossessed if you do not keep up repayments on your mortgage.

For arranging your mortgage we charge £249 for residential and £499 for Buy-to-Let (a Lifetime Buy-to-Let option is also available). Please note that Buy-to-Let mortgages are not regulated by the Financial Conduct Authority.

Mortgage availability depends upon your circumstances. Terms and Conditions apply.

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