help to buy available

With Help to Buy* available on all homes, your dream home could be more affordable then you think.

Help to Buy | Leon House Croydon

Help to Buy has helped over 420,000 people get on to the property ladder since the scheme started in 2013, and you can do the same at Leon House.

Making owning your first home more affordable; those using Help to Buy to buy their first home, actually save money every month in comparison to what they would be spending on rent.

All you need is a 5% deposit to secure your home, with up to 40% of the property value provided by the Government and a mortgage of up to 55% from a bank or building society.

How Does it Work?

£338,000
One bedroom property price

£16,000
5% deposit

£135,200
40% HTB equity loan

£185,900
Mortgage (55% LTV)

£571.49
Monthly repayment
(Fixed at 1.50% until 31/10/2020)
Reverting to SVR of 3.49% – £806.06/mth

Total cost of credit
£332,212

£417,000
Two bedroom property price

£20,850
5% deposit

£166,800
40% HTB equity loan

£229,350
Mortgage (55% LTV)

£704.53
Monthly repayment
(Fixed at 1.50% until 31/10/2020)
Reverting to SVR of 3.49% – £994.46/mth

Total cost of credit
£409,845

Note the following:

  • The monthly payments are calculated on a 35 year repayment mortgage.
  • Correct at 27/07/2018.
  • Maximum mortgage is calculated as 4.5 times income.
  • Early repayment charges apply during initial rate period.
  • Mortgage is fixed at 1.50% until 31/10/2020 (27 months); SVR for 393 months.
  • Deposit is 5% of the full purchase price.
  • 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%.’
  • The equity loan must be repaid after 25 years, or earlier if you sell your home. You must repay the same percentage of the sale as the initial equity you borrowed e.g. 40%.
  • Valuation fee does not apply and arrangement fee is £749, assumed added to loan.
  • All mortgages are subject to availability and status.

This does not represent a recommendation and does not contain all the information needed to choose a mortgage. Please ask for a personal illustration.

Your home may be repossessed if you do not keep up repayments on your mortgage

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