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To reflect the current property prices in London, from 1 February 2016 the Government is increasing the Help to Buy: Equity Loan scheme\u2019s upper loan limit from 20% to 40% for buyers in all London boroughs.<\/p>\n
IDM Estates has a number of New Build homes to sell under the Government\u2019s Help to Buy scheme. This initiative enables both first time buyers and current homeowners to take steps towards purchasing a new home with a value of up to \u00a3600,000 and deposits from as little as 5%.
\nTo find out if you qualify, come in and speak to one of our agents,
\nor call us on 020 7739 1650 (Option 1).<\/p>\n
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How does it work? If the home in the example left sold for \u00a3420,000, you would get \u00a3252,000 (60%, from your mortgage and the cash deposit) and you would pay back \u00a3168,000 on the loan (40%). You would need to pay off your mortgage with your share of the money.<\/p>\n You won\u2019t be charged loan fees on the 40% loan for the first five years of owning your home.<\/p>\n Aldermore, Bank of Scotland, Barclays, Halifax, Leeds, Lloyds, Nationwide, NatWest, Royal Bank of Scotland, Santander, Teachers and TSB offer London Help to Buy.<\/p>\n [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]<\/p>\n Who is eligible? You won\u2019t be able to sublet this home or enter a part exchange deal on your old home. You must not own any other property at the time you buy your new home with London Help to Buy.<\/p>\n [\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”2500″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1476975993968{background-color: #e3f3f3 !important;}”][vc_column width=”1\/2″][vc_column_text]<\/p>\n How to apply To open the door to owning your home in London, contact the Help to Buy agent for London:<\/p>\n
\n<\/b><\/span>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 \u2013 for up to 40% of the purchase price.<\/p>\n
\n<\/b><\/span>London Help to Buy equity loans are available to first time buyers as well as homeowners looking to move. The home you want to buy must be newly built with a price tag of up to \u00a3600,000.<\/p>\n
\n<\/b><\/span>The London Help to Buy scheme is run by the Government-appointed Help to Buy London agent. They can guide you through your purchase, from providing general information about the scheme to dealing with your application.<\/p>\n