Help To Buy Calculator
Help to Buy is a government- backed scheme which could help you get your hands on a brand new property from Lovell Homes with a deposit as little as a 5%.
How does Help to Buy work?
- Help to Buy equity loan is not just open to first time buyers
- You can buy your home with just a 5% deposit
- The government will lend you up to 20% of the value of your new home in England and Wales, 40% in Greater London and 15% in Scotland
- You will only need to secure up to a 75% mortgage in England and Wales, 55% in Greater London or 80% in Scotland, from a bank or building society
- There is a maximum home purchase price of £600,000 in England, £300,000 in Wales and £230,000 in Scotland
- Help to Buy equity loan is only available on new build homes.
Help to Buy Scheme Calculator
Open to both first time buyers and those looking to move up the property ladder, Help to Buy could make it easier for you to buy a new build home with just a 5% deposit. Find out how you can increase your budget with our handy Help to Buy scheme calculator.
I am looking for a property in:
Your Deposit (5%)£3,500
Equity Loan (20%)£14,000
Help to Buy: Equity Loan *Move in with just a 5% deposit and 75% mortgage in England and Wales, 55% mortgage in Greater London and 80% in Scotland. Those looking to buy with Help to Buy require a 5% deposit as the government will provide up to 20% of the value of the property in an equity loan (40% in Greater London, 15% in Scotland), allowing buyers to access mortgages of up to the remaining 75%, 55% or 80% respectively with Help to Buy. The equity loan is interest free for the first five years, and can be repaid at any time or when you sell your home. Scheme available on selected properties in England, on homes up to £600,000, homes up to £300,000 in Wales and £230,000 in Scotland. Lovell cannot advise you on a mortgage. Your home may be repossessed if you do not keep you repayments on your mortgage or any debt secured on it. Subject to terms and conditions. Please ask for further details.
Search for Help To Buy properties with your budget of £62,000. Enter your location or postcode to find properties within your budget.
OR Filter by an Area.