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Help to buy

Help to Buy

We understand that providing a sizeable deposit makes it difficult for many people to buy their first home or move from an existing property. This is why we support the Government's Help to Buy scheme: available to individuals of any profession across Dorset, Hampshire and Wiltshire, this scheme is designed to help buyers onto the property ladder with as little as a 5% deposit.

How does it work?

Once you have saved a 5% deposit, eligible candidates can borrow up to 20% of the value of the property through an equity loan from the Government’s Help to Buy Scheme. You will therefore need a 75% mortgage to cover the remaining cost of the property.

How much does the loan cost?

The equity loan is interest free for the first five years. After that, you will pay a fee of 1.75%, rising annually by the increase (if any) in the Retail Price Index (RPI) plus 1%. 

What if I want to sell?

If you wanted to the sell the property, you could do with without restriction. Upon completion of the sale, the equity loan would be repaid by way of a share of the proceeds. If you were to continue living in the property, however, the equity loan would need to be repaid after the maximum 25 years.

Am I eligible?

Yes, if you can afford a 5% deposit and are looking to buy a new build property worth £600,000 or less.

How do I proceed?

Contact your local Help to Buy Agent for more information about eligible properties. Your mortgage application will be subject to credit referencing, underwriting and a property valuation.

 Visit: www.helptobuy.org.uk for more information and to find your local agent.

Help to Buy Mortgages from Teachers

Our Help to Buy mortgage is available to education professionals in England as well as residents of any profession looking to purchase a property in Wessex (Dorset, Hampshire and Wiltshire).

For information on the Government Shared Ownership Scheme click here.



View our Infographic   

HTB Infographic 03.2016 

How much could you borrow?

Use our handy mortgage calculator to find out how much we may be able to lend you and which products may be available to you. 

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Want to have a chat with someone?

You can arrange a call back, send us a message or get straight through to the friendly team on 0800 378 669.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE