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Thursday 4 March 2021
Thursday 4 March 2021
Thursday 4 March 2021
Thursday 4 March 2021
The stunning Dorset coastline has long been a sought-after place to live. Whether you’re drawn by the Jurassic Coast’s natural beauty or looking to settle down, owning a home here might have once seemed out of reach. However, the Help to Buy scheme has changed that for many, making it possible for hard-working individuals and families to step onto the property ladder.
What is Help to Buy Dorset?
Help to Buy is a government-backed scheme designed to make homeownership more accessible. Here’s how it works:
You can purchase a home with as little as a 5% deposit.
The scheme is available for first-time buyers and existing homeowners looking to purchase new-build properties.
The government offers an equity loan of up to 20% of the property value, which must be repaid within 25 years. Loan fees only begin in the 5th year.
The maximum purchase price is £600,000 in England, with different limits in Scotland and Wales.
Key Benefits of Help to Buy
Lower Mortgage Requirements: With the government covering up to 20% of the property price, your mortgage only needs to account for the remaining 75%.
Government Guarantee: Lenders are partially insured against borrower defaults, making it easier to secure a loan.
Common Questions About Help to Buy
Can I buy any house with Help to Buy?
No, Help to Buy is exclusively for new-build properties. The property must also be occupied by the mortgage holder.
Is it available for mansions?
While the scheme offers flexibility, the maximum purchase price is £600,000 in England, so your dream mansion may need to wait!
How Barrett Mortgages Can Help
At Barrett Mortgages, we simplify the entire process to make buying your dream Dorset home as straightforward as possible. Our services include:
Initial Consultation: Discuss your goals and explore your options.
Affordability Assessment: Determine how much you can borrow.
Cost Breakdown: Get a clear understanding of the associated costs.
Agreement in Principle: Strengthen your position as a desirable buyer for estate agents.
Our Top Tips for First-Time Buyers
Save a Larger Deposit: This reduces the amount you need to borrow, resulting in lower monthly payments and a more attractive application for lenders.
Get Family Involved: If possible, enlist family members to act as guarantors or contribute to your deposit.
Seek Objective Advice: Avoid tunnel vision by consulting multiple sources for advice.
Compare Lenders: We source products from a range of lenders to ensure you get the best deal. If going it alone, be sure to understand all terms and conditions.
Get in Touch
At Barrett Mortgages, we’re here to help you make the most of the Help to Buy scheme and secure your dream Dorset property.
Call: 01202 733809
Visit: Our office on Parkstone Road, Poole, Dorset.
Online: Use our contact form for convenient assistance.
Let us guide you to homeownership with expert advice and friendly service.
The stunning Dorset coastline has long been a sought-after place to live. Whether you’re drawn by the Jurassic Coast’s natural beauty or looking to settle down, owning a home here might have once seemed out of reach. However, the Help to Buy scheme has changed that for many, making it possible for hard-working individuals and families to step onto the property ladder.
What is Help to Buy Dorset?
Help to Buy is a government-backed scheme designed to make homeownership more accessible. Here’s how it works:
You can purchase a home with as little as a 5% deposit.
The scheme is available for first-time buyers and existing homeowners looking to purchase new-build properties.
The government offers an equity loan of up to 20% of the property value, which must be repaid within 25 years. Loan fees only begin in the 5th year.
The maximum purchase price is £600,000 in England, with different limits in Scotland and Wales.
Key Benefits of Help to Buy
Lower Mortgage Requirements: With the government covering up to 20% of the property price, your mortgage only needs to account for the remaining 75%.
Government Guarantee: Lenders are partially insured against borrower defaults, making it easier to secure a loan.
Common Questions About Help to Buy
Can I buy any house with Help to Buy?
No, Help to Buy is exclusively for new-build properties. The property must also be occupied by the mortgage holder.
Is it available for mansions?
While the scheme offers flexibility, the maximum purchase price is £600,000 in England, so your dream mansion may need to wait!
How Barrett Mortgages Can Help
At Barrett Mortgages, we simplify the entire process to make buying your dream Dorset home as straightforward as possible. Our services include:
Initial Consultation: Discuss your goals and explore your options.
Affordability Assessment: Determine how much you can borrow.
Cost Breakdown: Get a clear understanding of the associated costs.
Agreement in Principle: Strengthen your position as a desirable buyer for estate agents.
Our Top Tips for First-Time Buyers
Save a Larger Deposit: This reduces the amount you need to borrow, resulting in lower monthly payments and a more attractive application for lenders.
Get Family Involved: If possible, enlist family members to act as guarantors or contribute to your deposit.
Seek Objective Advice: Avoid tunnel vision by consulting multiple sources for advice.
Compare Lenders: We source products from a range of lenders to ensure you get the best deal. If going it alone, be sure to understand all terms and conditions.
Get in Touch
At Barrett Mortgages, we’re here to help you make the most of the Help to Buy scheme and secure your dream Dorset property.
Call: 01202 733809
Visit: Our office on Parkstone Road, Poole, Dorset.
Online: Use our contact form for convenient assistance.
Let us guide you to homeownership with expert advice and friendly service.
