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Help to Buy: equity loan

Help to Buy: equity loan combines a government loan of up to 20% of the property’s value a 5% deposit from you and a 75% mortgage.
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Launched on the 1st April 2013 the scheme helps first time buyers and home movers buy a new build property.

How it works?

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The Help to Buy: equity loan is ideal for customers with a small deposit (minimum of 5%) and is available on new build properties only.

The applicant is required to provide a minimum deposit of 5% of the property’s value, the Government provides an equity loan of up to 20% of the property value and you will require a standard mortgage for the remaining amount.

Am I eligible for the Help to Buy: equity loan?

To be eligible for the Help to Buy: equity loan:

  • It must be a new build property built by a participating builder
  • It must be your main residence and only dwelling (you will not be intending to rent it out);
  • The mortgage must be capital and repayment (not interest only);
  • The scheme is only available in England;
  • Maximum purchase price of £600k

The scheme does not guarantee your mortgage payments. You are responsible for paying your mortgage under this scheme in exactly the same way as any other mortgage. The benefit to you is that it may enable you to get a mortgage to buy your home with a lower deposit.

For more details speak to one of our qualified mortgage advisors or go to the Help to Buy Scheme website.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Latest Rating and Reviews

2 Year Fixed Rate Mortgage (75% LTV)

Perfect

I had nothing but problems with a financial advisor so I went direct to adlermore the service the honesty from the company 5 star made up after hearing bad reviews I was worried but having dealt with them just amazing the leading banks should take a leaf out of this company's book

24th January 2017
2 Year Fixed Rate Mortgage (80% LTV)

Great company for expertise

I already had a product from Aldermore so when I seen the home of our dreams we decided to see what Aldermore could do for us. We had expert advice on the best product that suited our income and outgoings, from application to completion we were kept updated on a daily basis! I can't think of any other bank that would do that! A very personal touch. Very happy

11th January 2017 Mrpat
3 Year Fixed Rate Mortgage (70% LTV)

Very upsetting experience.

I wanted to buy a new house with a little more space and some character. I sold my house and found a house I liked I asked Aldermore for a new mortgage and they agreed. Then everything went horrobly wrong. Aldermore insisted I use their solicitors who turned out to be shockingly bad, I asked if I could change for better ones, they said no. The purchase of the new house should have takens 2 to 4 weeks, there is no chain and its effectively a vacant possession. Yet neary 3 months on there is no sign of it ever being completed and I am living out of my car. The whole experience has been horrifically expensive and one I would never wish to repeat. If I could go back in time and choose an alternative I would.

28th March 2016
2 Year Fixed Rate Mortgage (75% LTV)

Great service

The whole process was really simple! Great approach, really happy and pleased with service received. My mortgage advisor Francesca was fantastic and I definetly recommend her.

11th December 2015 Krzy
3 Year Fixed Rate Mortgage (70% LTV)

Very good service

I am very happy with the service I have received from Aldermore, the staff members were always very helpful when I called and I am happy with the mortgage that I have taken out. There was very good continuity and communication during the application process.

1st December 2015 OG10
  • Mortgages
  • Personal Mortgages
  • Help to Buy

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