Trust: Help To Buy
Help to Buy is a government-backed scheme which aims to help first time buyers onto the property market.
Help to Buy provides eligible buyers with an an equity loan (also known as shared equity) of up to 20% of the value of a new build home. The government provides the 20% loan so the buyer only needs to raise a 5% deposit, with a 75% mortgage making up the rest.
With Help to Buy, you can buy a new Aspire Developments home.
You will still need a 5% cash deposit and a mortgage to make up the rest (75% of the purchase price). The Help To Buy Equity Loan is interest free for 5 years and can be repaid at any time or on the sale of your home.
For more information, visit:
How it works
Example 1: Aspire Developments 2 bed Apartment, selling for £300,000
Purchase price of apartment £300,000
5% deposit (paid by you) £15,000
20% equity loan (provided by HM Government) £60,000
75% mortgage (provided by a HTB Mortgage Lender) £225,000
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