Help to Buy Equity Loan repayments, mortgages and selling your home
When you use the Equity Loan to buy a property in Mitcham, no repayments on the Government loan need to be made for 5 years.
The loan is cheaper to finance than it would be on the open market and you only have to get a mortgage for a maximum of 75% of the property’s value.
That said, the Government has a charge on your property in Mitcham, worth up to 20% (40% for London Help to Buy), as well as the mortgage lender’s charge. Until the Government loan is repaid, on sale, the Government will be due up to 20% of on any increase in the property value.
If you would like advice more about the Help to Buy schemes, call 0207 112 5388.
Help to Buy Mitcham - Recently Completed:
- 21 Edenvale Road, Mitcham, Surrey, CR4 2DP
- 64 Wilson Avenue, Mitcham, Surrey, CR4 3JL
- 8 Rosedene Avenue, Morden, Surrey, SM4 5RA
- 55 Tynemouth Road, Mitcham, Surrey, CR4 2BQ
- 112 Shaldon Drive, Morden, Surrey, SM4 4BH