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May 29, 2019

Help to Buy Made Even Easier

Our comprehensive guide to the Help to Buy process

By Heron Financial

As easy as 1, 2, buy?

Help to Buy.  It sounds easy enough, but we know what it’s like trying to decipher endless mortgage jargon and trawl through all the conflicting advice out there.  It’s like trying to keep up with Theresa May’s baggage allowance.  That’s why we’ve answered all your questions and broken it down, so you don’t have to.

First up, what exactly is Help to Buy?

These equity loans are for people who, just like you, are trying to get on the property ladder, or move on up it.  So if you’re a first time buyer or ready to move you can apply for a loan or mortgage on a new build house in England with a purchase value up to £600,000.

How does it work?

How do I get the standard mortgage?

That’s where we come in.  We look at mortgage deals and loans all day long (the exciting life of a mortgage broker…) and can quickly find you access to highly competitive rates.  With Help to Buy, lenders will assess your application based on a 25% (or 45% for London buyers) deposit.  There are lots of different ways to approach the process, including taking a smaller loan or increasing your mortgage slightly, to ensure you make the most of the Help to Buy scheme.

Why not try our handy mortgage rate calculator and see how much you’d be able to borrow.  Our calculator can’t guarantee eligibility, but it will give you a good idea to start with.

What about those fees?

Fortunately, there are no loan fees whatsoever in the first five years with the Help to Buy scheme.  Rejoice!

In the 6th year, a fee of 1.75% of the loan’s value is charged and after this, the fee will increase every year. This is worked out by a multiple of the Retail Price Index plus 1%.

Don’t worry about how to sort this all out, as a Help to Buy agent will contact you before the fees start and will help you to set up monthly payments with your bank.

What’s more, our team at Heron Financial will be there for you throughout the entire process to explain every step and clear up any confusion: no question too small, no query too large!  Even if it’s five years down the line and you’re unsure about the next steps – just let us know.

Getting to know you

If you decide we’re ‘the one’ (we are) and you would like us to find you the best mortgage deal, we can easily set up a meeting with you in person or on the phone.  We’ll let you know exactly what documents you’ll need beforehand and we’ll then simply chat with you about your lifestyle, your aspirations and what options best suit your circumstances so that we can get a really good mortgage, tailored specifically to you, saving you time, aggravation and potentially £1,000’s in the process.  We’ll also find out how you take your coffee and which brand of catnip you prefer.

Check yourself

Remember, it’s super important to check your credit report before applying for a mortgage application.  Check yours online quickly and easily by clicking here. *

*Please be aware that by clicking on the above link you are leaving the Heron Financial Ltd website.  Please note that neither Heron Financial Ltd or First Complete Ltd are responsible for the accuracy of the information contained within the linked site accessible from this page. (We’re fully regulated, as you can probably tell following that disclaimer, but this is a good thing – no wide boys over here).

If you’d like to find out more you can book an appointment easily and quickly online by clicking here.

Or you can contact us via:

+44 (0)203 195 1982


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