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BUYING A HOME MADE EASIER WITH HELP TO BUY

BUYING A HOME MADE EASIER WITH HELP TO BUY

We currently have a selection of properties available to reserve that qualify for the Government’s Help to Buy scheme, making it more affordable for purchasers to get on the property ladder. 

Help to Buy is an initiative designed to help purchasers move up the property ladder. It currently offers financial assistance to anyone buying a home up to the value of £200,000.

Subject to certain criteria, under the incentive buyers only need to provide a 5% deposit to secure a new home, with the Scottish Government providing a maximum 15% equity stake in the property.

Help to Buy is currently available on selected properties at our Long Meadow development in Ormiston and The Braes in Falkirk. Take a look at the example financial illustrations below to see how Help to Buy can work for you.



LONG MEADOW, ORMISTON

 
Plots 18 & 19 - The Albury: 


Purchase price: £181,000

Government contribution: £27,150

Deposit: £9,050

Borrowing £144,800

 

Monthly payment £448.45

 

Quote based on an interest rate of 1.55% fixed until 30/04/2020 over 35 years . £499 product fee, free survey.

 
A mortgage of £145299 payable over 35 years, initially on a fixed rate until 30/04/20 at 1.55% and then on a variable rate of 3.99% for the remaining 33 years would require 26 payments of £448.45 and 394 payments of £631.21. The total amount payable would be £260790.20 made up of the loan amount plus interest (£115240.20) . The overall cost for comparison is 3.75% APRC representative.
Your home or property may be repossessed if you do not keep up repayments on your mortgage. All loans are subject to status. 





 
Plot 16 - The Hendon: 

Purchase price: £199,000

Government contribution: £29,850

Deposit: £9,950

Borrowing: £159,200

 

Monthly payment £492.89

 

Quote based on an interest rate of 1.55% fixed until 30/04/2020 over 35 years . £499 product fee, free survey.

A mortgage of £159699 payable over 35 years, initially on a fixed rate until 30/04/20 at 1.55% and then on a variable rate of 3.99% for the remaining 33 years would require 26 payments of £492.89 and 394 payments of £693.77. The total amount payable would be £286612.40 made up of the loan amount plus interest (£126662.40) . The overall cost for comparison is 3.75% APRC representative.
Your home or property may be repossessed if you do not keep up repayments on your mortgage. All loans are subject to status. 





THE BRAES, FALKIRK


Plot 44 - The Albury: 


Purchase price: £180,000

Government contribution: £27,000

Deposit: £9,000

Borrowing: £144,000

 

Monthly payment £445.98

 

Quote based on an interest rate of 1.55% fixed until 30/04/2020 over 35 years . £499 product fee, free survey. 

 

A mortgage of £144499 payable over 35 years, initially on a fixed rate until 30/04/20 at 1.55% and then on a variable rate of 3.99% for the remaining 33 years would require 26 payments of £445.98 and 394 payments of £627.74. The total amount payable would be £259537.80 made up of the loan amount plus interest (£114607.80)  The overall cost for comparison is 3.75% APRC representative.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.



Walker Group is a registered provider of the Help to Buy scheme and would encourage anyone seeking more information to contact us via email or by calling 01506 413101.