Are you thinking about buying your first home?
The government’s Help to Buy Scheme is playing a major role in helping first-timers realise their property goals. Under the scheme, first-time buyers and second-steppers are offered a loan of up to 20% of the price to buy a new-build property of up to £600,000. A London-only version of the scheme provides 40% equity loans.
The 2018 Budget contained details of how the Help to Buy scheme is to operate in the future. Until 2021, anyone taking advantage of a Help to Buy equity loan to boost their purchasing power, can buy a property worth up to £600,000. Thereafter, and for a maximum of two years, only first-time buyers will be eligible to buy through the scheme, and the maximum property values will be restricted, with differing figures in place around the country to reflect regional house price variations.
Time to make your move?
If you’re thinking of making 2019 the year you buy your first home, it makes sense to get in touch. We can help you make your dream a reality.
Learn more about our mortgage advice service. Clifford Osborne advisors are based in East Sussex, and visit clients across Eastbourne, Hastings, Bexhill, Tunbridge Wells, Brighton, Battle, Newhaven, Seaford, Uckfield and further afield. Your first meeting with us is free – please get in touch to book.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.
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It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK; please ask for details. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor.
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If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency. Taxation depends on individual circumstances as well as tax law and HMRC practice which can change.
The information contained within the blog is for information purposes only and does not constitute financial advice.
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