Make your move easy
with Help to Buy

Help to buy scheme

With ‘Help to Buy’ you could be closer to owning your own V&A Home than you think. The government backed scheme means that you could own yours with as little as a 5% deposit.

Continue

Help to buy scheme

With ‘Help to Buy’ you could be closer to owning your own V&A Home than you think. The government backed scheme means that you could own yours with as little as a 5% deposit.

Continue

So What's Next?

  • 1

    Speak to a mortage advisor


    • Fall in love with a V&A Home. Speak to a mortgage advisor who will be able to help you apply for the Help to Buy Scheme as well as look for suitable lending. We can put you in contact with one if you don’t have your own.


  • 2

    Submit Help to Buy application


    • Submit the Help to Buy application. Wait to receive the ‘Ability to Proceed’ document that usually comes through within 4 working days. Once you have received this, you can apply for your mortgage.


  • 3

    Instruct a solicitor advisor


    • Instruct a solicitor who will be working on behalf of you, in handling the contracts, the Help to Buy equity loan, and the transferring of deposit and mortgage funds to the seller, which in this case is V&A Homes.


  • 4

    Complete the sale


    • On the completion date, all the funds in question will be transferred so that the house can legally become your new family home. At this point, there will be a second charge registered on your home, which entitles Homes England (Government Agency who loaned the Help to Buy loan) to a share of the proceeds of a future sale of your house, or the value after 25 years, whichever comes first.

      The percentage paid back to Homes England will be equal to the percentage initially borrowed. If you borrowed 20%, you will need to pay 20% of the sale price of the property at the time of the sale. If you still own the home after 25 years, then you will need to pay 20% of the value of the home at that time.



What is the Help to Buy Scheme?


The Government is offering the Help to Buy scheme in order to help people to get onto the property ladder and move up it when they buy a new build home.

How does it work:

You start with your 5% deposit
The government will lend you up to 20% of the purchase price (and it’s interest free for 5 years)
You arrange a mortgage of 75% to pay for the rest of the house
The equity loan needs to be paid back within the term of the loan or when you sell your house, whichever comes first
Available on properties outside of London with a maximum value of £600,000 and available until 2021.

Helping you sell your current Home with Assisted Move


We can then help you to sell your current home, by instructing local estate agents to carry out a valuation for you. We will agree a selling price with you.


Find Out More

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