Help to Buy
Buy your first home or your next home with just a 5% deposit through Acorn Bristol using the Government’s ‘Help to Buy’ scheme.
The scheme is available to first time buyers as well as homeowners looking to move to a newly built property with a price of up to £600,000.
There are two ways to purchase a property with Help to Buy – either with an ‘Equity Loan’ or ‘Mortgage Guarantee’.
The government will lend you up to 20% of the value of your property through an equity loan so you will only need to secure up to a 75% mortgage from a bank or building society.
A mortgage supported by the Help to Buy mortgage guarantee scheme works in exactly the same way as any other mortgage except that under the scheme the Government offers lenders the option to purchase a guarantee on mortgage loans. Because of this support, lenders taking part are able to offer home buyers more high-loan-to-value mortgages (80-95%). You will still be fully responsible for your mortgage repayments. So if you have a 5% deposit, you will need to take out and pay back a 95% mortgage.
For further information contact your local Help to Buy agent.
View available properties:
Ottery St Mary: Otters Holt
2 and 4 bedroom homes available
Terms & Conditions
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
Credit is secured against your home. Subject to status, Help to Buy Terms & Conditions and available on selected properties in England only. Eligible applicants will be offered an equity loan up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings/deposit where required. The equity loan is provided by the HCA and held as a second charge. This offer is not available in conjunction with any other promotion. Full details will be provided on request.