Buying with Help to Buy
Buying with Help to Buy is straight forward. Help to Buy is a Government-approved initiative that has helped lots of buyers complete on a new Park Lane Group home in recent years. So it’s good to know that it’s available to eligible buyers at Little Acres too – our upcoming development of 3, 4 and 5 bedroom homes off The Ridge in Hastings.
To buy a new Park Lane Group home via Help to Buy you will need just a 5% deposit and a mortgage of up to 75% of the value of the property. The remainder is provided by a Government equity loan. This is interest free for the first five years and could make your monthly mortgage repayments lower.
Helpful Help to Buy Equity Loan Scheme facts:
- The scheme is open to first-time buyers and home-movers
- It is only available on new-build homes by housebuilders which have registered with the scheme, such as The Park Lane Group
- Buyers only need to raise 5% of the property value as a deposit
- The Government provides a loan of up to 20% which is interest free for the first five years
- With a combined deposit of 25% (buyer’s 5% deposit + government 20% loan) buyers may be able to access more attractive mortgage rates from lenders
- A wide range of competitive mortgages are available to buyers proceeding via the Help to Buy scheme
- The equity loan can be repaid at any time without penalty
Here’s what a first-time buyer at High Breezes in Hastings had to say about completing with Help to Buy:
“My partner and I were looking to buy but didn’t think it was going to be feasible for us. We looked into the Help to Buy scheme and realised it may help us and then found out about The Park Lane Group’s new homes. We were really happy to find out they were registered with the scheme.
So we have now managed to do something we didn’t think was possible – it’s brilliant. I definitely recommend the Help to Buy scheme. It gives you that chance to get on the ladder and is a great way to start!” Bronwyn – proud new owner of a Park Lane Group home
New Homes in Hastings by The Park Lane Group – Coming Soon
Construction is underway at Little Acres in Hastings where we are building a collection of beautiful 3, 4 and 5 bedroom homes. In a quiet, residential location just off The Ridge, Little Acres homes feature en-suite master bedrooms, stunning fitted kitchens and contemporary bathrooms, gardens and allocated off-road parking.
You can learn more about Little Acres here.
And click here to visit the Help to Buy website at helptobuyese.org.uk