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Here are some you should consider:
Many of our properties are available through the Government’s Help to Buy Equity Loan scheme, which offers a great boost for those who want to buy a new build property as it allows them to purchase a home up to £600,000 with as little as a 5% deposit. With the Government providing up to a 20% equity loan that is interest free for the first five years, the buyer only needs to arrange a mortgage for 75% of the purchase price. The scheme is open to all purchasers, not only first time buyers.
To reflect the London market, in the Capital you can now borrow twice the amount compared to the standard Help to Buy scheme. Help to Buy London allows purchasers to borrow up to 40% of the home's value. Buyers will need at least a 5% deposit and will have to arrange a mortgage for the remaining 55%. The 40% equity loan is interest free for the first five years and the scheme is open to all purchasers of homes up to £600,000, not only first time buyers. It is available at many of our developments in Greater London.
First-time buyers can take advantage of the Help to Buy ISA scheme as they save towards a deposit on their first home. It is a tax-free savings product offered by many of the major high street lenders in which the Government adds 25% on top of whatever you've saved, up to a maximum contribution of £3,000. It can be used to purchase any property costing under £250,000 or under £450,000 in London, with any mortgage product. You need to save a minimum of £1,600 to benefit from the Government contribution.
Selling your existing home can seem like a daunting and expensive task. Our Part Exchange scheme really takes a weight off of your shoulders, and by choosing to part exchange you’ll benefit from:
First time buyers lucky enough to have some financial support from family members can benefit from an extra cash boost from us thanks to our Bank of Mum and Dad scheme. Simply let us know that your deposit was supported by your mum, dad, friend or relative and when you complete on your new home, that assistance will be rewarded with £2,000 as a thank you.
Whichever scheme is right for you be sure to look around for the best mortgage deal, using an impartial, whole-of-market mortgage broker or Independent Financial Adviser to get the best deal that suits you. Seek as much advice as you can before deciding on your mortgage broker and lender.
Before you commit to any broker it's important to get them to run through the whole mortgage process from start to finish. Find out what information you need to provide (bank statements, proof of employment etc.) and what the broker will actually be doing. For example, will they be making any recommendations, or just providing information? And if it's your first mortgage will they help and guide you through the application process and be on hand to assist you all the way until completion?
At Countryside we can help recommend an Independent Financial Adviser and our sales advisers can help you throughout the sales process. Your new Countryside home will be ready to move into so no need for lots of DIY, you won’t need to wait for your seller to move out and lots of brand new appliances come as standard.
Buyers looking to purchase their ideal home this summer, should look at the current range of homes available from Countryside. To find out more information about how you can move into one of our exciting new homes, come and visit one of our show homes across London, the South East and the North West.
Here you’ll find property related blog articles from the team at Countryside as well as independent experts. Expect regular tips and advice on topics such as buying a new home, interior and landscape design, setting up home, mortgages and finance, plus articles on architecture, the property market, regeneration and more.