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Help to buy

Help to buy

Help to buy - Joseph Homes

London Help to Buy

To reflect the current property prices in London, from 1 February 2016 the Government is increasing the Help to Buy: Equity Loan scheme’s upper loan limit from 20% to 40% for buyers in all London boroughs.

How does it work?

The London Help to Buy scheme could help you realise the dream of owning your own home in the capital. When you put down as little as a 5% deposit on a newly built home, you can get a Government equity loan – for up to 40% of the purchase price.

Example: for a home with a £400,000 price tag

If the home in the example above sold for £420,000, you would get £252,000 (60%, from your mortgage and the cash deposit) and you would pay back £168,000 on the loan (40%). You would need to pay off your mortgage with your share of the money.

Help to buy - Joseph Homes
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