Currently, there are two Help to Buy schemes available to first time buyers as well as existing homeowners that both require a minimum deposit of just 5%. These are the ‘ Help to Buy Equity Loan’ and the ‘Help to Buy Mortgage Guarantee’, which work in the following ways:
Help to Buy Equity Loan
- Only available on new build homes.
- The Government will lend you up to 20% of the value of your new property through an equity loan which is interest free for 5 years
- This means that only a 75% mortgage will need to be secured from a bank or building society.
- In England, this scheme is available on house purchases up to the value of £600,000.
Help to Buy Mortgage Guarantee
- Available on both new build and existing homes.
- A 95% mortgage will need to be secured from a participating bank or building society.
- The Government provides your mortgage lender with a guarantee of up to 15% of the property’s value meaning that lenders are able to offer higher loan to value mortgages.
- This scheme is available in England and Wales on house purchases up to the value of £600,000.
Whether you can picture your perfect home or keeping your options open – searching for a new home is an exciting time. Why not sign in or join My Redrow to book an appointment online, or speak with one of our friendly sales consultants to discuss your requirements today!
As more information about this exciting new Government backed scheme becomes available, we will keep you up to date. Don't forget to register your interest today!
Help to Buy is a Government backed initiative in partnership with housebuilders. Help to Buy cannot be used in conjunction with any other scheme. It is highly advised, for a swift, smooth transaction that an IFA/Solicitor advised by Redrow Homes is used. Offer cannot be used in conjunction with any other Redrow offer. Help to Buy is only available within England. Subject to availability, on selected plots only
From old to new in 3 easy steps – and help towards estate agents' fees
What is MASTERMOVE?
Mastermove helps you buy a brand new Redrow home, while we take the hard work out of selling your old property by arranging valuations, appointing an estate agent and taking care of all the paperwork. We’ll help with the estate agent’s fees, and in some cases we could even pay them completely.
Who is MASTERMOVE for?
For all homeowners looking for a hassle free way to sell their home. Unlike Part Exchange, Mastermove covers any home, whether it's a flat, maisonette or ex-council house, whatever the value relative to the price of your new Redrow home. So whether you want to move up, downsize or even step sideways, Mastermove could be the best move you could make.
How does MASTERMOVE work?
Mastermove helps you move into your brand new Redrow home in three simple steps:
Step 1 - Find your Redrow home and register on Mastermove.
Step 2 - We'll arrange 2-3 valuations and agree a guaranteed price that will sell your house fast. We’ll also agree the contribution Redrow will pay towards your fees.
Step 3 - Redrow will instruct one of our approved estate agents to vigorously market your property, leading to a swift sale that leaves you free to purchase your new Redrow home.*
What should I do next?
For an easier way to move, talk to a Redrow Sales Consultant today about how Mastermove can help get you moving.
The contribution towards *estate agent's' fees will vary depending on the property being purchased. Please liaise with our Sales Consultants for full details. Please note, if having sold your property through Mastermove, you decide for any reason you no longer wish to proceed with the purchase of the Redrow home, then you become responsible for the estate agent's fees and costs. If a customer completes on their related sale prior to the completion of their Redrow home they must pay the estate agent fees in full and the Redrow fee contribution will be reimbursed upon legal completion. Subject to build stage.