help to buy equity loan schemeHelp to Buy is only available in Wales.

Over 90,000 have bought with Help to buy since 2013.

The Government will lend you 20% (on a purchase of up to £600k) if you can provide 5%, under the Help to buy “equity loan scheme.”

The property must be in a Help to Buy accredited development.

Crucially this allows buyers to get rates based on 75% loan to value rather than higher rates at 95%.

Plus for the next 5 years they will pay on a mortgage 20% smaller.

However the choice of options to re-mortgage can be limited.

When you sell you have to repay the government 20% of your home.

After 5 years interest will be charged at 1.75% of the original equity value (rising by the Retail price index plus 1%).

You can pay off the loan by stair casing with a minimum of 10%.

You will need consent from HCA to raise money on your home .

For full details https://www.gov.wales/help-buy-wales

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YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOAN SECURED ON IT.

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