HomeBuy Direct
If you are desperate to step onto the property ladder but struggling to raise a large deposit, help is at hand with the fantastic HomeBuy Direct scheme. But the scheme ends at the end of July 2010 – so now is your last chance to take advantage of it.
HomeBuy Direct is an equity loan scheme co-funded by the Government and ISIS Waterside Regeneration, which helps first-time buyers purchase a new home by funding an equity loan of up to 30% of the purchase price.
Who is it for?
• Are you ready to take the step towards home ownership but have little or small deposit?
• Do you earn (either on your own or jointly with a partner or friend) up to £60K
per annum?
• Want to take advantage of a government-backed way of buying your first property?
• Frustrated about paying rent which goes down the drain?
• Want to own a home whilst paying lower mortgage payments than rent?
How does it work?
• You buy a minimum of 70% of the market value of the property with the help of a mortgage
and at least a 5% deposit.
• An equity loan of up to 30% is provided by ISIS and the Homes and Communities Agency
to assist your purchase.
• There are no payments on the loan for the first five years.
• After five years you pay interest on the loan.
• Option to begin paying off the loan after one year.
So why rent when you can buy?
*Subject to terms and conditions.
