The House Crowd Fox Owl Rise Brochure - Page 17



HOW IT WORKS
Currently, many buyers struggle to raise a large enough
deposit to secure a mortgage. This scheme means you only
need to raise a 5% deposit (depending on your chosen
mortgage lender) and then you can access up to 20% of the
property price through an equity loan.
This equity loan is provided by the Homes and Communities
Agency (HCA). You pay nothing on the equity loan for the
first five years. After five years the equity loan will be subject
to a fee of 1.75% per annum on the outstanding amount of the
equity loan.
This fee will increase each year by RPI (Retail Price Index)
plus 1%. We always recommend that you seek financial
advice to determine how much your monthly payments
will be at this point.
When you sell your property, or choose to repay some or all
a helping
hand from
help to buy
of the equity loan, the amount you have to pay back will be
based on the market value of your property at that time.
ANYONE CAN APPLY
This scheme is open to all home buyers (not just first time
buyers) who want to buy a new home but are struggling as
a result of mortgage requirements.
You must be able to fund up to 75% of your selected property
through a conventional mortgage and have access to a minimum
5% deposit.
HOW TO APPLY
We believe that everyone should be
able to get into the property market, so
we’re delighted that our properties are
available to purchase through the Help
to Buy Scheme. This new governmentbacked equity loan scheme is designed
to help buyers purchase a new property
in a way they can afford.
Call 0800 970 8823
or email sales@housecrowd-developments.com to speak to our
Help to Buy specialists.
Your home may be repossessed if you do not keep up
repayments on your mortgage.

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