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help to Buy

WHY CHOOSE HELP TO BUY?

A Government Scheme - The Government will lend you between 10% and 20% of the value of the property through an equity loan, which can be repaid at any time or upon the sale of your home. 

The amount to be repaid is determined by the future sale and may not be the same as the original equity loan price amount. 

A new home within easier reach - You will require just a 5% deposit and secure up to a 75% mortgage from a bank or building society. 

Available to everyone - Equity loans are available to first time buyers as well as homeowners* looking to move to new homes in England up to the value of £600,000   *You must have sold your existing property before completing your Help to Buy purchase. 

Peace of mind - You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

Free, Independent Advice - We will happily put you in touch with an Independent Financial Advisor to help you with your move.  

Help to Buy Infographic

As this is a Government Scheme, we advise that you refer to the Help to Buy website for full details regarding the scheme: helptobuy.gov.uk/equity-loan

Here’s our 60 second video to explain how Help to Buy works…

HOW IT WORKS:

1)  Select a new Bloor home at one of our participating developments and pay the reservation fee of £500. 

2)  Complete a Help to Buy application through the relevant Government appointed Help to Buy Agent.

3)  Once approved, you will be given an ‘Authority to Proceed’ and the purchase of your new Bloor home may proceed to completion.

4)  We can help you choose a Solicitor and Independent Financial Advisor to ensure the purchase of your new home runs smoothly.

5)  You may then apply for the required mortgage amount.

6)  Sit back and relax whilst we get your new Bloor home ready, giving you regular updates along  the way.

7)  Move into your new Bloor home, on-time with no stress.

FAQs

Do you have a few questions about the Help to Buy scheme? Please take a look through our FAQs below, where your questions will be answered...

Can you clarify the equity loan element?
The Government will provide you with an equity loan up to 20% value of the property. This loan is interest free for the first five years. From year six a fee of 1.75% is payable and will rise annually by RPI inflation plus 1%.
What are the repayment terms of the equity loan?
You can repay the loan any time within the first 25 years (or the terms of the mortgage), or when you sell the property.
Is the scheme available on pre-owned homes?
The Help to Buy equity loan scheme is only available on new-build homes like those built by Bloor Homes.
Can I use the scheme if I already own a home?
The Help to Buy equity loan scheme is available only available to first time buyers..
Is the scheme available as a buy-to-let option?
The Help to Buy scheme is only available to purchasers using the property as their main residence.
What mortgage types are available with Help to Buy?
Repayment mortgages are the only option with this scheme.
Where can I get financial advice from?
Bloor Homes can put you in touch with a list of recommended financial advisers who can assist you every step of the way.
When does the scheme end?
Help to buy ends in March 2023. This means you need to legally complete on your new home by 31st March 2023.

*Help to Buy and all Bloor Homes’ incentives and schemes are subject to terms and conditions and are available on selected developments and selected plots only. Help to Buy is available on selected new homes in England, within the set regional price cap, and is available to first time buyers only. For full details on plot eligibility, please speak with the Sales Team.


Images are representative only, are intended to be a preliminary guide and should not be relied upon. Full terms and conditions can be found here.

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