Buying a new-build property can be more difficult than a second-hand property, even more so if you are buying ‘off plan’.
Our team of new-build mortgage experts will secure the best mortgage deal, with the most suitable lender for your individual circumstances.
Help and advice throughout the whole processHelp to Buy
Acumen can advise you on using the Government-funded Help to Buy scheme to purchase your dream home. Help to Buy is only available on new-build Properties, and all you need is 5% deposit.
Help to Buy is available to all purchasers, not just first-time buyers (conditions apply).
You can buy any brand new house up to a maximum price of £600,000.
You must have a deposit of 5%, although it can be more.
The Government will lend you up to 20% of the value of your new home, so your mortgage will be a maximum of 75%, securing you a better interest rate and LOWER monthly mortgage payments.
|Example One||Example Two|
|Property Purchase Price||£200,000||£300,000|
|Your deposit 5%||£10,000||£15,000|
|Government Help to Buy loan 20%||£40,000||£60,000|
The Government Help to Buy loan is interest-free for the first five years. From year six onwards, the fee is 1.75% of the Government Help to Buy loan, which increases each year by Retail Price Index plus 1%.
You can sell the house at any time, and must repay the Government Help to Buy loan when you do. The amount repaid will be 20% of the sale price, regardless of whether it has increased or decreased in equity since purchase.
You can choose to make voluntary or part repayments at any time, subject to a minimum of 10% of the market value at the time of payment.
You will probably have a maximum of 28 days to exchange contracts once you have reserved your property. Our experience, knowledge and connections with all the mortgage lenders means that we can process your mortgage application much quicker, ensuring you meet your deadline and secure your property.
We have access to Mortgage Loans for customers with a minimum 5% deposit that are not available through other Brokers or direct from lenders.
Choice of mortgage lender is crucial. Some lenders have mortgage offers that are only valid for 3 months. Your property may not be ready for 6, 9 or 12 months. We will work carefully with you to select the right lender.
Your home may be repossessed if you do not keep up repayments on your mortgage or other debts secured upon it.