Help To Buy Scheme - The Key Points

HELP TO BUY: THE KEY POINTSBy Cotswold Financial Planning.

www.CotswoldFinancialPlanning.co.uk

Help to Buy:

•Help to Buy Equity Loans.•Shared Ownership.•NewBuy.

1. Help to Buy Equity Loans

Available to first-time buyers and movers to a new-build home worth

a maximum of £600k.

How Does it Work?

It is extremely simple!...

• Contribute a minimum of 5% of the property cost.• Receive a government loan for a maximum of 20%.• Arrange a mortgage of 75% to account for the rest.

Any Fees?• There are no loan fees for the first five years

of your home ownership.• 1.75% of the loan value will be added in the 6th year, and the fee will increase every year

thereafter.

2. Shared Ownership

• Provided via Housing Associations.• Purchase a share of your home, between 25% and 75%, and pay rent on the remaining share.

• Acquire a mortgage to cover your share of the home’s price.

Are You Eligible?

• Your household needs to earn £60k or less.• You can be a first-time buyer, or somebody who

formerly owned a property but can no longer afford it.• You rent a Council / Housing Association property.

3. New Buy

New Buy allows you to acquire a brand new home with only a 5% deposit on the purchase price.

Are You Eligible?

You home must be:

• New build• £500k or less• Your number one home (not a second home)• Owned by you (not shared ownership)

You don’t necessarily need to be a first time buyer!

For More Information…

Talk to Cotswold Financial Planning.

We can help you get the most from these schemes, and advise you on the best approach.

Visit: www.CotswoldFinancialPlanning.co.uk

Or call: 01608 651608