Help to buy
- 1. Your mortgage will be more affordable so maybe you can: Less to borrow What could this mean on a £200,000 home? + = Sourcing our customers the most suitable mortgages from thousands of deals To find out more visit www.mortgageadvicebureau.com/helptobuyscheme 20% 5% 25% You only need a 75% mortgage Which means lower repayments Which could mean lower interest rates Get on the property ladder Afford a better home than you thought Government Equity Loan depositdeposit There are conditions: The property has to be a new build home up to a maximum price of £600,000. Three things to think about if you are considering the Government’s Help to Buy Equity Loan scheme? 1. The 20% paid by the Government has to be paid back. Interest is payable on the outstanding Government loan after the first 5 years. 2. You may be able to afford one of the increasing number of 95% mortgages now available, without a Government loan, and without being restricted to a new build purchase. 3. We recommend you seek independent mortgage advice. Your home may be repossessed if you do not keep up repayments on your mortgage. There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. The rate shown is available as at 10 April 2014 and may not be available to all customers. Mortgage £150k Government £40k Your £10k Can’t afford to get on the property ladder? Could a 20% loan from the Government help? MAB 6025 75% Vs 95% Initial monthly payments £675.95 Vs £1,055.00 Initial rates 2.54% Vs 4.49% Subsequent rates 3.99% Vs 3.99% The overall cost for comparison is 3.9% APR Vs 4.2% APR MAB 6025