3 bedroom property for salePlot 8 Redcatch Road, Redcatch Road, Knowle, BRISTOL, BS4 2RX
Sold by Us POA
- * The Help to Buy scheme is available on all newly built homes in England up to £600,000.
- * Help to Buy is available to all purchasers, not just first-time buyers.
- * The scheme is not available for Buy-To-Let.
- * The scheme is only available in relation to capital repayment mortgages.
- * Customers will only need to secure a 75% mortgage.
Full descriptionFULL PRICE £290,000
WHAT IS HELP TO BUY?
With Help To Buy you can buy your new home with the assistance of a Government funded loan.
The Government will lend up to 20% of the value of a new build home through an equity loan*. The buyer contributes a deposit of their own (minimum 5%), then the Help to Buy scheme supplements that deposit to provide a 25% deposit in total. This leaves the buyer needing a mortgage for 75% of the property value.
*The government equity loan is interest free for the first five years. From year six a fee of 1.75% will be charged, rising annually by RPI inflation plus 1%. The equity loan can be repaid at any time within 25 years (or the terms of the mortgage), or on sale of the property.
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