First time buyers don’t despair – you can still get there!
Whilst the Government Help to Buy Mortgage Guarantee Scheme may have ended on 31 December 2016, there is still time to open a Help to Buy: ISA.
Help to Buy: ISAs are still available to open until 30 November 2019 through a multitude of High Street banks and building societies including Halifax, NatWest, Santander and Barclays.
Provided you are a first time buyer and meet the Government’s criteria and the property price of the property is below £450,000 (in London) or £250,000 for the rest of the country and you are able to save up to £200 a month into the scheme (saving a minimum of £1600) you will qualify for a Government bonus of 25% of the amount you have saved, up to a maximum of £3000.
If you are buying your first home together with another first time buyer, then you can each take out a Help to Buy: ISA and pledged the combined savings and bonuses towards the purchase of your first home.
The Lawson-West Conveyancing team are experts in all areas of conveyancing transactions including remortgages and Transfers of Equity. We will always use straight forward communication and use legal jargon-free explanations, so you can understand what is happening. Contact Sharon, Louise or Sarah today on 0116 212 1000.
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