England (PRWEB UK) 12 May 2013
The government backed Help to Buy scheme was launched in April 2013 and is aimed at getting people moving on the property ladder.
To help everyone understand this fully and see if this could help get them onto the property ladder or move into a brand new home, BPL Solicitors have launched a dedicated website at http://www.helptobuy.me
This website provides all the information needed in no-nonsense plain English to help people decide whether this scheme could be of benefit in helping to purchase a brand new home with only a 5% deposit plus an additional 20% deposit from the Government.
BPL Solicitors have extensive experience and specialist knowledge of both this scheme and all aspects of New Build properties and, together with this scheme, BPL staff can help make sure that, for someone moving into a brand new home, it is not only affordable but a stress-free and enjoyable experience.
The Help to Buy Scheme comes in 2 parts.
PART 1: 20% deposit towards a new-build property
The first part, launched last month, is aimed at anyone who wishes to buy a New Build Property. If someone has a 5% deposit, then they will be able to get a further 20% as a Government loan. This loan is interest free for the first 5 years!
Unlike similar schemes in the past, this one is open to anyone buying a new house that is valued up to £600,000, whether they are an existing homeowner or a first time buyer, and also with no limits imposed upon the household income.
PART 2: Guarantees for small deposit mortgages
The second part will be launched in January 2014 and is the Mortgage Guarantee part of the scheme. This will apply to all properties, not just new build homes, with, again, a property value limit of £600,000.
If someone only has a small deposit and are having difficulties due to a high loan to value ration, then the Government will give a guarantee to the mortgage lenders for a percentage of the loan. They person would still be required to get the full mortgage amount from the mortgage lender, but the mortgage lender would have the additional security of knowing that at least part of the mortgage was guaranteed by the Government.
The http://www.helptobuy.me website is provided under BPL's dedicated consumer brand iconvey.co.uk (specialist online conveyancing services focussed solely on providing excellent cost-effective property conveyancing direct to consumers).