Help to Buy
As a potential homebuyer in London, there are two main government schemes that you might be able to access to help you buy your home.
[hotlink each to title in page]
Help to Buy ISA
London Help to Buy
(You might also have heard of something called the Mortgage Guarantee Scheme, however this will be closing down at the end of 2016and no longer available).
We’ve prepared an overview of each scheme to help you understand if you might be able to benefit from one of them. As the rules change now and then, please be sure to check the official government website [link to https://www.helptobuy.gov.uk] for the latest terms and conditions.
|Help to Buy ISA|
|What is it?||A specialised ISA account for people who are saving to buy their first home. When you purchase your property, the Government will provide you with a bonus worth 25% of the amount you saved in your Help to Buy ISA (up to a maximum bonus of £3,000).|
This means that for every £100 you save in your ISA account, the Government will contribute another £25.
|Am I eligible?||This scheme may be right for you if:|
|How do I apply?||You will need to apply for the Help to Buy ISA from any of the banks or building societies that offer the product. A list of providers can be found here. [link to https://www.helptobuy.gov.uk/help-to-buy-isa/providers-in-the-scheme]|
|Is there anything else I need to know?|