The Help to Buy and Shared Ownership Government Schemes were introduced to help both first time buyers and previous home owners to get onto the housing ladder. The schemes provide much-needed additional financial assistance for the home buyer struggling to find sufficient deposit for their purchase.

The shared ownership and Help to Buy schemes are only available through recognised and authorised agents. Mortgage Required is delighted to announce that we are now able to offer our clients mortgages for both schemes as approved Help to Buy mortgage advisers.

The eligibility criteria for each scheme varies but in simple terms, if you have owned a property before (which you have now sold) or you’re a first time buyer, then one of these schemes might well be for you. If you are looking for a Help to Buy Loan you’ll need a minimum deposit of 5%.

If the home you want to buy is too expensive to afford outright, you might consider buying a part of the home through the Government’s shared ownership programme. Unlike the Help to Buy equity loan scheme, the shared ownership scheme is not limited to qualifying new build homes and it is open to home buyers with a joint household income of up to £80,000 outside London and £90,000 inside London.

If you are over 55 don’t worry, there is now a shared ownership scheme for you too. Unlike the general shared ownership scheme which requires the buyer to pay a rent on the part of the home that isn’t theirs, the Older People’s Shared Ownership Scheme offers buyers a rent free option on that element of their home!

For more details on the various Government Schemes available through Mortgage Required contact us or speak to a mortgage adviser on 01628 507477.



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