Help To Buy in Lincolnshire - buy your new Chestnut Home for just 80% of the price.
Backed by the Government, this new shared equity scheme will allow you to secure your new home by way of a low deposit and a 20% equity loan from the Government.
Help to Buy is open to all buyers, not just first time buyers who are looking to buy a new home. If you have a minimum deposit of just 5% and meet the mortgage lender’s affordability criteria, you may be able to buy your new home using this scheme.
How does it work?
- The Government will lend you up to 20% of the value of your new property through an equity loan.
- Therefore, you only need to secure up to an 80% mortgage from your lender.
- You will own 100% of the property.
- The Government equity loan must be repaid after 25 years, or when you move, whichever happens first.
- There is nothing to pay on the equity loan for the first five years. In the 6th year, interest will be payable at a rate of 1.75% (increasing in subsequent years at RPI + 1% per annum).
- The scheme is available on new home developments only.
- You will need a minimum of a 5% deposit.
- The maximum purchase price is £600,000
**This scheme is available at all developments, but may not be available on all properties. Please speak to our sales advisors for details.
Or simply speak to one of our Sales Negotiators