Looking to buy a new home but only have a small deposit? The government-backed Help to Buy Scheme can help you to get on the property ladder and own your own home. The scheme allows buyers to get a new build property with a deposit as little as 5%.
When buying a new home, you must complete the legal ownership process known as conveyancing.

At Banner Jones, we have a wealth of experience dealing with conveyancing under the Help to Buy scheme. We explain the entire process in a straightforward and uncomplicated manner.  For a free, no obligation quote call 0330 017 6309

How the Help to Buy Scheme works

You need a 5% deposit to qualify. The government will provide you with a 20% deposit that is interest-free for the first five years. However, after five years you will pay a monthly administration fee.

The equity loan from the government must be paid off in full, by one of the following terms whichever happens first:

  • After 25 years
  • At the end of your mortgage agreement
  • When you sell your home

On an equity loan, you will always pay the same level of interest rate. However:

  • If your property increases in value, you will pay more money back.
  • If the property loses value, you will pay less back than you borrowed.

For more information on the help to buy scheme, contact our team of specialists in Chesterfield, Dronfield, Mansfield and Sheffield  on 0330 017 6309