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How does it work?
When buying a new build Redrow home up to the value of £600,000 in England, and £300,000 in Wales, the Government will lend you up to 20% of the property's value. This is lent to you as an interest free equity loan, remaining interest free for five years.
With this loan, you'll then only need a mortgage for 75% of the property value, and a 5% deposit.
For those looking to buy in London, the limit for borrowing is increased to 40%, meaning with a 5% deposit you'll only need a 55% mortgage.
Who can use it?
There are different types of Help to Buy schemes that have been backed by the Government. The Help to Buy ISA is available for first time buyers, but the Help to Buy Equity Loan is a scheme that's available to existing home owners too.
There are specific rules that apply to the Help to Buy ISA, and you can find out more information on the Government's website or download our Help to Buy brochure.
Other ways we can help you move
Mastermove
Move in 3 simple steps with Mastermove
Find out more about Mastermove, and take the stress out of selling your current property.
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Advantage
Get an Advantage when moving with Redrow
Find out more about the affordable Redrow homes we have available to first time buyers.
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Stamp Duty Paid
Want a smooth move? We'll pay your Stamp Duty
Here at Redrow we are making it easier than ever to move by paying a contribution of your stamp duty on selected plots across the country.
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