The Monks Guide To Help First-time Buyers

Owning your first home is an exciting prospect…however, getting onto the property ladder can sometimes feel an almost impossible dream. Helping you to make your move, we have compiled a few of the schemes that you might be eligible for:

Help to Buy ISA

A tax-free savings account where for every £200 saved, the government will add an extra £50.

More information can be found here.

Help to Buy Equity Loan

The government will lend you up to 20% of your home’s value after you have put down a 5% deposit. The loan is on top of a normal mortgage, but it can only be used to buy a new-build property.

More information can be found here.

Lifetime ISA

Another government scheme that gives anyone aged 18-39 the chance to save tax-free and get a bonus of up to £32,000 towards your first home. You can save £4,000 a year and the government will add 25% on top.

More information can be found here.

Shared Ownership:

Co-owning with a housing association means that you can own part of the property and pay rent on the remaining amount. You can buy between 25% – 75% of the property.

More information can be found here.

Starter Homes Initiative:

A government scheme that will see 200,000 starter homes built in England to be sold with a 20% discount to first-time buyers by 2020.

More information can be found here.

To answer all of your questions and to help find the best scheme for you, please contact us at www.monks.co.uk /01743 361422 or pop in to see us at any one of our two offices in Shoplatch, Shrewsbury.

 

 

Related Articles

Christmas Competition

The Countdown to Christmas has begun and at Monks Estate and Lettings Agents the girls are already up to..

read more
Free home valuation tool now available online with Monks

We know that life is busy and that sometimes you need to be able to get things done outside..

read more
Clicks verses Bricks

The difference between an online and a high street estate agent Due to the sharp rise in the number..

read more
Kitchen Pickers: The top trends to get your kitchen sale ready

After an amazing time at the Shrewsbury Food Festival this weekend – where we got to sample oh so..

read more