HomeBuy Direct
Thirteen of the 16 apartments within Cooper wing are available using the Government’s HomeBuy Direct equity loan scheme.
This means that you buy a minimum of 70% of the market value of the property, and an equity loan of up to 30% is provided to assist your purchase. There are no payments on the loan for the first five years, after which a fee of 1.75% is charged, which increases annually in line with inflation. You will need to raise a mortgage to purchase through this scheme, but you can also use any savings you may have to contribute as a deposit towards your share.
Once you have completed your purchase you can buy additional shares at a later date until you own 100% of the property. Additional shares are calculated on the current market value at the time that you purchase them.
Finally, if you wish to sell your property, the equity loan is repaid as a percentage of the market value at the time of sale.
If you would like to take advantage of the HomeBuy Direct scheme you will need to register at www.moat.co.uk - our sales staff will be pleased to provide further details.
Documents
To view or download further details on HomeBuy Direct please click below:
1. Home Buy Direct - Am I Eligible - Click here
2. Home Buy Direct Guide - Click here
