The new Help to Buy: Equity Loan scheme was launched by the government on 1st April 2021. The scheme supports first-time buyers and includes regional property price limits to ensure the scheme helps those who need it most.
The new scheme is planned to run until March 2023. As with the previous Help to Buy scheme, the government will lend homebuyers up to 20% of the cost of a newly built home (up to 40% in London) allowing them to acquire 100% of the property. The equity loan must be paid back within the loan term, or if the property is sold.
If you are considering purchasing through the Help to Buy scheme and would like advice on the procedure and the costs involved then GA Solicitors will be happy to help.
Our award-winning residential conveyancing lawyers work on a fixed fee basis so you can be sure you are getting a fair deal and know all possible costs at the outset. As we are accredited members of the Law Society’s Conveyancing Quality Scheme, you can also be confident you’ll receive an excellent level of service.
Further information on Help to Buy can be found on the government website https://www.ownyourhome.gov.uk/.