How Does Help to Buy Work?
• You'll need a minimum of 5% deposit to qualify.• Available to all home movers (not just first-time buyers) purchasing a single property who do not currently own a property in or outside of the UK.
• The Government will lend you up to 20% of the value of your property through an equity loan, which can be repaid at any time within 25 years or on the sale of your home, whichever occurs earliest.
• So you'll only need to secure up to 75% mortgage from a bank or building society.
• The equity loan is interest free for the first five years.
• Maximum home purchase of £600,000 in England and £300,000 in Wales.
Who can use it?
There are different types of Help to Buy home 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.
Help to Buy terms and conditions
TERMS AND CONDITIONS
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.
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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