Did you know you can get help in order to buy a New Build property? For as little as 5% deposit from you, the government scheme can help with a contribution of between 10% and 20%. Have a listen to the 60 second clip and if you need to know more get in touch via email hello@patrickjamessolutions.co.uk Your home may be repossessed if you do not keep up repayments on your mortgage.
Hello and welcome to today’s 60-second snippet into the mortgage world and today’s subject the government help to buy. You’ll have heard about the government help to buy when looking for a new build property. The government help to buy is a contribution of the government to your deposit you have your minimum 5% deposit and the government offer up to 20% contribution, unless in the London area that can be increased to 40%. What you need to understand is that that’s also a help to buy because some lenders will acknowledge the deposit which has a reflection on the interest rate applicable. if you just purchase a property with 5% deposit the way the market works is the interest rate is normally higher. using the government help to buy also allows you to get better interest rate meaning cheaper monthly bills