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Help to Buy Oxford

Help to Buy Oxford

IMS are the only mortgage broker in Oxfordshire to be listed as a recommended financial advisor in Oxfordshire for Help to buy.

https://www.helptobuy.gov.uk/

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

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

Example: for a home with a £200,000 price tag

Help to Buy: Equity Loan scheme Example

If the home in the example above sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.

We can also help with Help to Buy with Shared Ownership and Armed Forces

 


 

Help to Buy – Help to Buy Oxford

To reflect the current property prices in London, from February 2016 the Government is increasing the upper limit for the equity loan it gives new home-buyers within Greater London from 20% to 40%. See more at: https://www.helptobuy.gov.uk/equity-loan/equity-loans/#sthash.uvpr8XS7.dpuf

 

For a free appointment with one of our expert mortgage advisors, click here

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