This is an ideal time to get on the property ladder or to move to a house that offers you more flexible living as your family expands and your requirements change. The ‘Help to Buy’ offers you an affordable solution to purchasing a brand new Pennyfarthing home in a highly desirable area.
At present this scheme is only applicable in England. The Scottish Government, Welsh Government and Northern Ireland Housing Executive each run a similar scheme, which is worth investigating if you are aiming to purchase a newly built property with a price tag of up to £600,000.
‘Help to Buy’ makes new build homes available to all home buyers (not just first time buyers) who wish to buy a new home, but may be constrained in doing so – for example as a result of deposit requirements – but who could otherwise be expected to sustain a mortgage.
Under the terms and conditions you will not be permitted to sublet your home, enter a part exchange deal on your former house and you cannot own any further property at the time of purchase using the Equity Loan ‘Here to Help You’ scheme.