Help to Buy Mortgage Advice in Lincoln Across All Schemes
Thanks to the Help to Buy Schemes, your odds of getting onto the property may have improved. As of now, there are more routes to choose from, depending on if you are eligible.
As a Mortgage Broker in Lincoln, our job is to inform you about the different eligible schemes for your circumstances. You may find that other Help to Buy Schemes are available for you out there.
However, you can’t just pick and choose a scheme that you like, as you won’t likely qualify for all of them. But, this is something that our Mortgage Advisor in Lincoln can check your eligibility before you rush into applying for anything.
How does the Help to Buy Equity Loan Scheme work?
Thanks to the Help to Buy Equity Loan Scheme, this has helped many First Time Buyers in Lincoln get onto the property ladder. Previously this was available to homeowners looking to move home, though as of 2021, this is no longer the case.
Below are a few essential facts regarding how the Help to Buy Scheme works:
– You will need a minimum of 5% deposit.
– Up to 20% of the property’s value will be treated as an equity loan from the Government.
– The remaining balance will be covered by a mortgage.
How do you qualify for the Help to Buy Scheme?
Help to Buy Equity Loans apply to new-build properties up to a maximum value, this value is depending on your region in England. Our Mortgage Advisors in Lincoln will check your eligibility to whether or not you may qualify for this scheme.
Help to Buy Shared Ownership
With the Help to Buy Shared Ownership Scheme, you can buy a share in a property. The percentage is usually between 25% and 75%. However, under some circumstances, you may be allowed to purchase as little as 10%. You then will pay back the remaining percentage through rent.
As your expert Mortgage Broker in Lincoln, we can provide Help to Buy Mortgage Advice across all schemes. Find more information about Help to Buy Schemes available to you and the most common Help to Buy mortgage scenarios further down this page.
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