Looking for a Help to Buy Equity Loan solicitor in Devon and Somerset?

Are you looking for an experienced 'Help to Buy Equity Loan' solicitor in Devon and Somerset? We look at the government’s Help to Buy Equity Loan scheme.

Help to Buy is a government scheme designed to help people purchase their own home. The scheme has been introduced for a limited period and has recently been extended due to its widespread popularity among property buyers.
Under the scheme the government provides the purchaser with funds to buy their new home by way of an Equity Loan.
In England the maximum sum available under the Help to Buy scheme is £120,000, though the figure is higher in London.
Buyers are required to provide a deposit of at least 5% of the purchase price. The balance of the purchase price is borrowed under a standard mortgage.
After 5 years an annual fee of 1.75% is charged on the amount initially loaned. This is linked to the Retail Prices Index (RPI) plus 1%.
The loan must be repaid after 25 years, or if the property is sold earlier.
The total amount repayable is calculated as a proportion of the market value of your home that was funded by the help to Buy Equity Loan, plus interest and charges.
The amount that ultimately has to be repaid is based on the market value of your home when you repay the Help to Buy Equity Loan.

If you are looking for a Help to Buy Equity Loan solicitor in Devon and Somerset who is experienced in dealing with Help to Buy transactions then please contact us for details of our charges. Our solicitors and conveyancers will guide you through the legal process with straightforward, plain speaking advice. Call us on freephone 0333 888 0404 or send an email to us at info @sleeblackwell.co.uk for a quote.

 

Lee Dawkins

Lee Dawkins

Over the past 30 years Lee has overseen the expansion of the firm’s litigation department. He developed our personal injury and clinical negligence teams, creating various niche areas that now enjoy a national profile. He pioneered contentious probate, setting up one of the UK's leading inheritance dispute teams and established Slee Blackwell as a force within claimant professional negligence. He now works as the firm's marketing partner.
Lee Dawkins

Lee Dawkins

Over the past 30 years Lee has overseen the expansion of the firm’s litigation department. He developed our personal injury and clinical negligence teams, creating various niche areas that now enjoy a national profile. He pioneered contentious probate, setting up one of the UK's leading inheritance dispute teams and established Slee Blackwell as a force within claimant professional negligence. He now works as the firm's marketing partner.

Share this post:

Share on facebook
Share on twitter
Share on linkedin
Share on email

Share this post:

Share on facebook
Share on twitter
Share on linkedin
Share on email

Call the Slee Blackwell helpline on 0333 888 0404