Help to Buy means you could afford to buy a brand new home with as little as 5% deposit.

The current Help to Buy scheme is available until March 2021, and both existing homeowners and first time buyers can benefit – Discover more below…

From 1 April 2021 there will be a new Help to Buy scheme for first time buyers only.

With just a 5% deposit and a 75% mortgage, buyers may be able to borrow up to 20% of the cost of a new home at Victory Oak from the Government.

What is Help to Buy?

With Help to Buy, you could buy a brand new home at Victory Oak!

  • You only need a 5% deposit.
  • The Government lends you up to 20% 
  • The loan is interest-free for 5 years, making your dream home more affordable
  • You then need to secure a 75% mortgage

Homes that qualify

All house types except the Cedar are available with Help to Buy at Victory Oak.

An illustrative of the Beech 3 bedroom home can be found below:

House value £360,000

£270,000– 75% mortgage

£72,000– 20% Govt. equity loan

£18,000– 5% buyers deposit

Typical Example

Who is eligible?

First Time Buyers and anyone purchasing a new home up to the value of £600,000 can use Help to Buy.

There are conditions but to highlight the key points:

  • The home you buy must be your only residence.
  • The scheme isn’t available for buy-to-let investors.
  • The scheme isn’t available to those who will own any other property after completion.

To understand if you can qualify for Help to Buy make sure you talk to a Financial Advisor who can help you through the process.  We recommend Imperial Financial who are an independent Financial Advisor.  They have helped many of our buyers through the Help to Buy journey here at Victory Oak and you can contact their expert team on 02381 78 1545 email enquiries@imperialfinancial.co.uk

Save on Stamp duty

The Chancellor has announced changes to the Stamp Duty tax, raising the current threshold from £125,000 to £500,000, which could save you thousands when buying your new home at Victory Oak.

What is stamp duty?

Stamp Duty is the tax charged by the Government when you buy a home. Following the Government announcement in England no Stamp Duty is payable on homes up to £500,000 until 31st March 2021.

Use this useful calculator to discover the savings you could make with the stamp duty holiday in England:

https://www.stampdutycalculator.org.uk/

Terms & Conditions

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.

Credit is secured against your home. *Subject to status, Help to Buy Terms & Conditions and available on selected properties in England only. Eligible applicants will be offered an equity loan up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings/deposit where required. The equity loan is provided by Homes England and held as a second charge. This offer is not available in conjunction with any other promotion. Full details will be provided on request.