HOW IT 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.

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

Where is the scheme available?

Help to Buy is available across all Bloor Homes developments in England on homes up to £600,000 and up to £300,000 on homes in Wales.

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 to both first-time buyers and existing homeowners. Our Home Change scheme can help sell your property for you.

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.

*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 only available on developments in England, up to the value of £600,000 subject to contract, status and eligibility.

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.