Property description
The Government Help to Buy scheme now makes it possible to buy a new home with just a 5% deposit and not just for first time buyers. Help to Buy can help you get on the property ladder, or move up it!
'The Portman' house type. A very popular 3-bedroom townhouse, with a garage. Accommodation offers flexible living and is arranged over three floors.
Ground floor comprises entrance hall, cloakroom, open plan kitchen/dining and family area with integrated kitchen appliances and access to the rear garden from the family room.
The first floor offers bedroom three, bathroom and additional sitting room, with two bedrooms (master with ensuite) to the second floor
Priors Lea Development is situated on the outskirts of Paulton village with excellent commuter links to both Bristol and Bath. 2, 3 and 4 bedroom homes are available with the developer offering many schemes to help you buy.
WHAT IS HELP TO BUY?
With Help To Buy you can buy your new home with the assistance of a Government funded loan.
The Government will lend up to 20% of the value of a new build home through an equity loan*. The buyer contributes a deposit of their own (minimum 5%), then the Help to Buy scheme supplements that deposit to provide a 25% deposit in total. This leaves the buyer needing a mortgage for 75% of the property value.
*The government equity loan is interest free for the first five years. From year six a fee of 1.75% will be charged, rising annually by RPI inflation plus 1%. The equity loan can be repaid at any time within 25 years (or the terms of the mortgage), or on sale of the property.
FAQs
� The Help to Buy scheme is available on all newly built homes in England up to �600,000.
� Help to Buy is available to all purchasers, not just first-time buyers.
� The scheme is not available for Buy-To-Let.
� The scheme is only available in relation to capital repayment mortgages.
� Customers will only need to secure a 75% mortgage.