Mortgage Broker

Homeowner Schemes

Find out more about the Government Schemes including, Help to Build, First Home Scheme and Shared Ownership.

Help To Build – Equity Loan

The Help to Build scheme is a government scheme that is available to people in England to enable them to custom-build or self-build their own home.

So, if you have ever dreamed of building your own home, Help to Build can make building your own home a reality, even if you only have a small deposit.

A ‘custom build’ or ‘self-build’ home means that you can decide on everything from:

  • The Design – Incorporating features that suit your lifestyle, such as energy efficiency and smart technology
  • The Internal Layout – Designing a home that will suit you and your family’s specific needs
  • The Location – homes can often be the size and scale you want, built on smaller plots of land available for development in the area you want to live.

With Help to Build, the government offers you an equity loan based on the estimated costs to enable you to buy a plot of land and build the home.

The equity loan amount can be between 5% to 20% (up to 40% in London) of the total estimated cost and if eligible, you can spend up to £600,000 on your new home.

This must, however, include the cost of the land if you don’t already own it, and cost no more than £400,000 to build it.

You could be eligible if:

  • You are 18 years old or over, and have a right to live in England
  • You will live in the newly-built home as your only home
  • You can secure a self-build mortgage from a lender registered with Help to Build

For more information check out –

https://www.ownyourhome.gov.uk/scheme/help-to-build/

Still unsure? No problem, get in touch and one of our friendly team will be happy to help.

 

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First Homes Scheme

The First Homes scheme is a new government scheme designed to help local first-time buyers and key workers purchase their first home.

These First Homes will be offered on a limited number of plots in most new developments and will be discounted by at least 30% compared to market price, with the discount potentially increasing by up to 50% in some areas.

The amazing this is that the discount will apply to these specific homes FOREVER for new buyers

There are a few conditions that are worth noting, including:

  • Post-discount price caps on the first sale of the property of £250,000 across England and £420,000 in London (or lower if set by the local authority)
  • A First Home should be the buyers only home. A purchaser will need to use a mortgage or home purchase plan for at least 50% of the purchase price of the home
  • To apply, you need to check whether the builder is currently including First Homes as part of the development. If they are, you must then qualify through the eligibility criteria and apply through the builder.

You could be eligible if:

  • You are a local first-time buyer or keyworker
  • You have a household income not exceeding £80,000 and £90,000 in London. (Or lower if set by the local authority)

You can find out more here:

https://www.ownyourhome.gov.uk/scheme/first-homes/

Still unsure? No problem, get in touch and one of our friendly team will be happy to help.

 

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Shared Ownership Mortgage

A shared ownership mortgage is one of the government schemes available for people who can’t quite afford the 100% mortgage of a property.

This means that you buy a share of a property (between 10% and 75% of the home’s value) and then you pay rent on the remaining share, with the option to buy bigger shares later on if/when you can afford to.

You could be eligible if:

  • Your household earns up to £80,000 a year or up to £90,000 in London.
  • You are a first-time buyer, you used to own a home but cannot afford to buy one now or if you are an existing shared owner and you are looking to move.

For more information check out:

http://www.ownyourhome.gov.uk/scheme/shared-ownership

Still unsure? No problem, get in touch and one of our friendly team will be happy to help.

 

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What our customers say

 

  • “Amy has been a wonderful support as we look at getting our first mortgage for a renovation. She has explained everything with a wealth of experience behind her and in terms that even I can understand! We feel incredibly comfortable making such an important decision with Amy to advise and guide us; we couldn’t ask for any more patience and knowledge from this lovely lady. Would always recommend, without hesitation.”

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  • “Fantastic help and advice from day one! Within a few minutes of meeting Dan for the first time both myself and my partner felt at ease and have never felt pressured which is so important, especially when making one of the biggest purchases of our lifetime. Would thoroughly recommend Dan to anyone and definitely those who are a first-time buyer as every step and process is well explained and any questions are always answered promptly with honesty.”

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  • “When we were just about at our wit’s end with the process of getting our first mortgage, Amy quite literally saved the day (and our sanity!) She was professional, calm and thorough. Fantastic communication throughout the whole process, she managed to secure us a fantastic rate and explained everything to us every step of the way. A genuinely lovely lady, cannot recommend enough.”

    C. Charters

  • “Lisa was recommended to me by a friend and she did not disappoint, fantastic from start to finish. I found a house I wanted to make an offer on, emailed Lisa at 9 pm on a Sunday (not expecting a reply till the following morning) and I had a mortgage in principle by 10 pm the same night. Lisa was always on the ball even through COVID. I honestly can't thank her enough for all her help and will definitely be recommending her to people in the future.”

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