Help To Buy
A first-time buyer who is wanting to own one of our brand new build homes in North Wales or Cheshire may need a little bit of financial assistance. The Help to Buy scheme has helped thousands of people across England and Wales own a new build home with a personal minimum contribution, usually 5% of the overall asking price of the home.
There are regional price caps on property in England and a set cap in Wales to ensure only starter homes are purchased. For example in The North West a maximum market value cap is £224,400 and East Midlands of £261,900.
A quick example of required funds are that you have personally have saved 5% of the new homes overall value. This coupled with an equity loan of 20% leaves a remaining 75% covered by a mortgage. The equity loan can be repaid over 25 years.
An ISA is an important savings account that helps you save money by separating part of your earned money and keeping it safe within another account. This can be done automatically making it even easier.
The Lifetime ISA (LISA) lets you save up to £4,000 every tax year towards a first home or your retirement, with the state adding a 25% bonus on top of what you save. That means you could get a chunky £1,000 of free cash annually. Plus you earn interest on whatever you save, and as it's an ISA, that interest is tax-free.
A first-time buyer who is wanting to own one of our brand new build homes in North Wales or Cheshire may need a little bit of financial assistance. The Help to Buy scheme has helped thousands of people across England and Wales own a new build home with a personal minimum contribution, usually 5% of the overall asking price of the home.
There are regional price caps on property in England and a set cap in Wales to ensure only starter homes are purchased. For example in The North West a maximum market value cap is £224,400 and East Midlands of £261,900.
A quick example of required funds are that you have personally have saved 5% of the new homes overall value. This coupled with an equity loan of 20% leaves a remaining 75% covered by a mortgage. The equity loan can be repaid over 25 years.
The Lifetime ISA (LISA) lets you save up to £4,000 every tax year towards a first home or your retirement, with the state adding a 25% bonus on top of what you save. That means you could get a chunky £1,000 of free cash annually. Plus you earn interest on whatever you save, and as it's an ISA, that interest is tax-free.
The best thing about buying new homes is the fact that it is brand new. Nobody has lived their before and the home is free from poor DIY attempts or dodgy decorating.
You get to decide how your home is finished internally and get a say in which appliances and fixtures are place internally.
The benefit of buying new Penrhyn Homes far outweighs old properties with potential hidden faults.
Talk with our trained sales advisor about owning a new home in North Wales.
The best thing about buying new homes is the fact that it is brand new. Nobody has lived their before and the home is free from poor DIY attempts or dodgy decorating.
You get to decide how your home is finished internally and get a say in which appliances and fixtures are place internally.
The benefit of buying new Penrhyn Homes far outweighs old properties with potential hidden faults.
Talk with our trained sales advisor about owning a new home in North Wales.
When a chain collapses property sales falls through causing both frustration and added costs for all of the people involved.
The best way to move in to new build homes is to have sold already. When you are in a buying position this creates a perfect period of time where you can relax and not have to worry about a potential chain collapsing. Having the money in the bank, ready to move in to your new home speeds up the entire completion process.
If you need to talk about further information relating to buying a property with financial assistance, we're here to help.
Price Matters
We're here to help you throughout your home buying process. Contact us and we will be in touch.