Buying Guides HOME BUYING GUIDES HELP TO BUY OVERVIEW HOW TO BUY HELP TO BUY WAYS TO BUY Help to Buy If you’re a first-time buyer in England, you can apply for a Help to Buy Equity Loan which is a loan from the government that you put towards the cost of buying a newly built home. You can borrow a minimum of 5% and up to a maximum of 20% (this is 40% in London) of the full purchase price of a new home. PRICE CAPS Martin Grant Homes are a registered housebuilder with Help to Buy and can offer the scheme on developments that fall into the criteria set out by the Government. Price caps are in place, with new caps set from April 2021 to Mach 2023, as follows; Region Maximum property price North East £186,100 North West £224,400 Yorkshire and the Humber £228,100 East Midlands £261,900 West Midlands £255,600 East of England £407,400 London £600,000 South East £437,600 South West £349,000 The equity loan, plus the deposit you have saved and your repayment mortgage combined, cover the total cost of buying your newly built home. The percentage you borrow is based on the market value of your home when you buy it. You do not pay interest on the equity loan for the first 5 years. You start to pay interest in year 6, on the equity loan amount you borrowed. The equity loan payments are interest only, so you do not reduce the amount you owe. For further information on the scheme, please visit the official Government website: www.helptobuy.gov.uk Help to Buy is available subject to eligibility, terms and conditions. CUSTOMER CARE We understand that a property purchase is more than bricks and mortar Find out more 123 ABOUT US 40 years of building quality homes in the south east Find out more 123 LAND HOMES FOR SALE OUR LOCATIONS WHY BUY WITH US CUSTOMER CARE BUYING GUIDES CONTACT ABOUT US CAREERS OUR NEWS COOKIES POLICY PRIVACY POLICY TERMS & CONDITIONS WEBSITE BUILT BY BOPGUN We use cookies to give you a better experience on martingranthomes.co.uk. By continuing to use our site, you are agreeing to the use of cookies as set in our Cookie Policy. OK WITH ME