The Help to Buy extension and return of 90% mortgages
We’ve got some good news for you, and it’s all about the housing market…
The good news
To encourage people onto the housing ladder, mortgage lenders have reintroduced 90% loans. This means buyers only need to find a 10% deposit, which is a major improvement on how things were pre-Covid.
Help to Buy has also made a bit of a comeback. The popular shared equity scheme sees the Government lending 40% of the house value, leaving the buyer to find a 5% deposit and borrow 55% from the bank.
Two and five-year loans are now available through Santander and other lenders, with more following suit. The initiative was meant to run until next year but there’s now a good chance it’ll be extended in a bid to keep the economy moving.
In short – it’s easier to purchase your home now, than it was a year ago.
The even better news
Help to Buy is available to those looking to buy property at Deptford Landings and our sales advisors are on hand to help you find your new home.
Deptford Landings is part of six new neighbourhoods in the SE8 area being developed by Lendlease. There are 1,132 new homes to choose from, and each of them promises to be truly exceptional.
Get in touch with the sales team to find out more: [email protected].
Credit: Evening Standard