THOUSANDS of first-time buyers are been given extra time to secure their homes under the Help to Buy scheme. The deadline for buyers to complete on homes and benefit from an interest-free loan from the Government was supposed to be March 31. ???? Read our coronavirus liv e blog for the latest news & updates But this has now been extended for a third time until May 31 for buyers already in the process of purchasing their new build home under the scheme, to make up for delays caused by coronavirus. The Help to Buy Equity Loan scheme lets buyers purchase a new build home with a 5% deposit. Buyers can borrow up to 20% of the property value – or 40% in London – to make the mortgage smaller to give those on smaller salaries a step up on the property ladder. The loan scheme is changing from its current form from April, as the Government looks to tighten lending criteria. What help is out there for first-time buyers? GETTING on the property ladder can feel like a daunting task but there are schemes out there to help first-time buyers have their own home. Help to Buy Isa -… Read full this story
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