St Catherine’s Court – Help to Buy now available

St Catherine’s Court, Sevenoaks, is our first project to offer the popular Help to Buy equity loan scheme, helping purchasers to take the next step in purchasing a new home – but what does it really mean and how can it benefit you?

What is Help to Buy?

Help to Buy is an equity loan scheme allowing people to purchase new build homes with just 5% deposit. The government will then loan an additional 20% of the value of your property, which is interest free for 5 years. You will then need to secure the remaining 75% through a mortgage, of which there are plenty of competitive options available.

Who is eligible?

Many people often think that Help to Buy is just for first time buyers, but in fact those who have previously owned a home can also apply.

YES:

First-time buyers

Previous homeowners who don’t own a home at the time of the purchase of the Help to Buy property

NO:

Buy-to-let investments

Second homes

How does it work?

The Help to Buy loan amounts are calculated based on the property sale value and the percentages noted previously, please see the example below:

Property value –          £330,000

This is made up of:

5% deposit –                   £16,500

20% Help to Buy –       £66,000

75% mortgage –            £247,500

What’s next?

If the sound of the Help to Buy scheme appeals to you or you’d like to find out some more information about the properties at St Catherine’s Court, please contact our Savills sales team on 01732 789740

 

 

Send us a message or call 01732 464 134