What is a Help To Buy Mortgage?

A government-backed scheme, Help to Buy mortgages are designed to give first-time buyers a helping hand with getting onto the property ladder. However, this scheme is also open to current homeowners. Find out more about this type of mortgage, including eligibility criteria and how our help to buy mortgage brokers Peterborough can help.

With deposits as low as 5%, the government is now providing an interest-free loan that covers a certain percentage of your purchase price.

This is called an equity loan and covers up to 40% for London properties, up to 20% outside London, and up to 15% in Scotland.

The percentage left after you’ve received your equity loan will then be borrowed as a mortgage.

A huge benefit of the Help to Buy scheme is that it enables you to borrow less. This means you will have a lower loan-to-value ratio, which should allow you to find more favourable mortgage rates. It will certainly give you more choice.

However, with more choice of mortgages comes more research and time spent looking for the perfect deal. That’s where we can help.

Call us on 01733 367800 or contact us today to find out how we can help you!

Whole of Market Access

Take a look below at some of the lenders we deal with. Remember, we are independent mortgage advisors – meaning we offer whole of market advice. No restrictions, just full access to all the exclusive deals you won’t be able to find yourself.

Am I Eligible?

If you’re considering taking out a Help to Buy mortgage, there are some restrictions and eligibility criteria you should know about:

  • The property must be a new-build and cost no more than £600,000
  • You must live in this property as your home – you are not permitted to rent any part of a property that is bought with a Help to Buy loan
  • You can only take out a repayment mortgage – interest-only repayment options are not available with a Help to Buy scheme
  • While you don’t need to be a first-time buyer, you are not permitted to own another property in addition to the one you’re selling
  • It’s important to bear in mind that from 2021 the Help to Buy scheme will be restricted to first-time buyers

The criteria listed above may help you decide whether a Help to Buy mortgage is right for you. However, if you’re still unsure, you can speak to us for friendly, impartial advice.

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How Can Agentis Help?

At Agentis Financial and Mortgage Solutions we have access to the whole mortgage market, including exclusive deals, meaning we can offer impartial advice and make sure you have access to the best Help to Buy mortgage packages.

Making sure you’re confident with your decision is important to us – that’s why we explain what each mortgage involves in a simple, jargon-free way, and we’re here to answer your questions every step of the way.

As well as finding you the ideal mortgage, we can also help with your application and negotiations with solicitors and estate agents.

With over 80 years’ combined experience in mortgage and financial solutions, contact us today to book your free consultation and get one step closer to owning a new home with a Help to Buy mortgage.

Is the help to buy scheme only for new builds?

Help to buy is open to first-time buyers and current homeowners, but is restricted to new builds that cost no more than £600,000.

When does the help to buy scheme end?

The most recent help to buy scheme ended on March 31st, 2021 with a new one becoming available to first-time buyers exclusively from April 1st 2021 until 31st March 2023.

How do I apply for the help to buy scheme?

Our help to buy mortgage brokers at Agentis are here to help you with that. We will provide impartial advice on the whole market, meaning you’ll find the ideal mortgage for you.

Is the help to buy scheme worth it?

There are pros and cons to the help to buy scheme, but overall it helps you to get onto the property ladder and only requires you to have a 5% deposit. You will legally own 100% of the property, but it is limited to new builds and the value you owe can change if the value of your property changes.

Can you rent out help to buy properties?

No, when you buy a property using the help to buy scheme you are buying it primarily as residential property for yourself and are not allowed to rent that property out to anyone.

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We are able to offer whole of market advice to find you the best deal, completely tailored to your circumstances. 

    What Our Customers Think

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    We cannot recommend Christine from Agentis enough. She has arranged our mortgage for the past 8 years and makes the whole experience so easy and stress-free. She is extremely knowledgable and always secures us the best possible mortgage – we wouldn’t use anyone else! Highly recommended.

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    I couldn’t be more happier by choosing Agentis Financial for my first mortgage. I appreciated the time Christine took to explain everything to me and to answer the questions I had. Been very helpful and negotiated the offer for me, saved £3000! Thank you so much

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    I will never use anyone else. Agentis have helped me with house purchases and re mortgages. I have also recommended them for my sisters first time buy. Christine is always a pleasure to deal with and never fails to get you the best deal.

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    Meet The Team

    Established in 2014 by Christine Long and David Mortell, Agentis was set up to offer expert industry knowledge alongside the personal touch and flexibility of a smaller, family-run business. Now with a growing team of mortgage brokers in Peterborough, they have the very best mortgage and protection experts on board to help individuals, couples and families turn their dream of owning a home into a reality.
    Agentis is an appointed representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.