Make your dream possible with a 5% deposit

Blog December 2019

It’s always a surprise when we tell first-time buyers or homeowners that are looking for their dream home, that they can purchase a property at Wynyard Park by using the government’s Help to Buy equity loan scheme.

What is the scheme?

The scheme is an ‘equity loan’ where the government will loan you up to 20% of the value of your new home. Here’s what you need to know:

  • You only need a 5% deposit
  • Available for new build homes
  • Available to first-time buyers and existing homeowners (who have sold their home)
  • The government will lend you up to 20% of the value of the new property
  • You will own 100% of your home
  • Equity loan is interest free for 5 years

How do you pay the government loan off?

You won’t be charged loan fees for the first 5 years of owning your home. In the 6th year, you’ll be charged a fee of 1.75% of the loan’s value. After this, the fee will increase every year for up to 20 years. The increase is worked out by using the Retail Prices Index plus 1%.

Can the scheme be used across all the developments at Wynyard Park?

Good news for you, the help to buy scheme is available across all the ready to move into homes here at Wynyard Park including:

  • Avant Homes, view properties here
  • Taylor Wimpey, view properties here
  • Story Homes, view properties here
  • David Wilson Homes, view properties here

How long is the scheme available for?

The current scheme is ending in March 2021, but it will be replaced by a new scheme, which will run from April 2021 until March 2023 – however, it will only be open to first-time buyers and have regional property price caps. This is an amazing opportunity for you to purchase your dream home, but don’t miss the chance, add the dates into your diary if you’re not looking to move just yet!

How do I get started?

Visit our sales suite and speak to a member of our team that will provide you with all the information you need to start the process.

Opening times:

Monday – 8:30am until 5pm

Tuesday – 8:30am until 5pm

Wednesday – 8:30am until 5pm

Thursday – 8:30am until 8pm

Friday – 8:30am until 5pm

Saturday – 11am until 5pm

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