In very close proximity to excellent transport links, Levenshulme train station accessed within walking distance with regular rail services into Manchester city centre. Also close to the A6 with regular bus services running into Manchester City Centre and Stockport. Viewing Essential.
Viewing - Strictly by appointment through Madina Property - 588 Stockport Road, Manchester, M13 0RQ. - Tel: 0161 225 1234 - Email: email@example.com
Help To Buy Scheme - Move up or move in with as little as a 5% deposit.
What is it?
Help to Buy is a government-backed scheme that helps you move into a new Redrow home with as little as 5% deposit.
Who is it for?
The 'Help to Buy Equity Loan' and 'Help to Buy Mortgage Guarantee' are available to everyone, whether you're a first time buyer or an existing homeowner who is looking to move up the property ladder.
How does it work?
Help to Buy Equity Loan - The Government will lend you up to 20% of the value of your new build Redrow home up to the value of £600,000 through an interest free equity loan for five years. This means you'll only need to secure a 75% mortgage with a 5% deposit. From February 2016 the upper limit for the equity loan is being increased from 20% to 40% in London. London buyers will still need to contribute at least 5% of the property price as a deposit but will only need to raise a 55% mortgage.
Help to Buy Mortgage Guarantee - The Government provides your mortgage lender with a guarantee of up to 15% of the property's value, meaning that lenders are able to offer higher loan to value mortgages. A 95% mortgage will need to be secured. The scheme is available in England and Wales on house purchases up to £600,000.