Help to buy and Government ISA - is available at Mulberry Vale

Buy a new home from Orchard Homes using the Help to Buy Scheme. It could enable you to buy with only a 5% deposit and a 75% mortgage.

Once you have viewed and chosen your home, we will agree timescales, next steps and the breadth of options you have to bespoke and tailor your home

We offer the Help to Buy scheme across all our developments.

Help to Buy is a government-backed scheme. You can buy your new home with as little as a 5% deposit by using a 20% equity loan from the government and a 75% mortgage.

The scheme has already helped thousands across the country reserve a new home so talk to us about how it can help you.

Key things you need to know about the scheme:

  • Available on new build homes only throughout England

  • You will need a minimum of a 5% deposit

  • Available to all, not only first time buyers

  • Qualify for up to a 20% interest free government loan. Interest free for 5 years.*

  • You may only need a 75% mortgage

  • Applicable to all properties below £600,000

  • Only available for repayment mortgages

  • Mortgages are now available through a variety of high street lenders

An example…

  • If you have a deposit of £17,500 (5%)

  • Government loan of £70,000 (20%)

  • Mortgage of £262,500 (75%)

  • Value of home could be £350,000

  • The interest rate in the sixth year will be 1.75%, which will rise annually by RPI (retail price index) inflation plus 1%

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Are you eligible?

  • You must demonstrate you have savings for the deposit, legal fees, stamp duty and the cost of moving

  • Be purchasing a new build property for £600,000 or less

  • Have a good credit history

When will you have to pay it back?

The equity loan is a for a maximum of 25 years. You can however pay the loan back at any time during the mortgage term or on the sale of your home.

Help to Buy ISA

If you’re taking advantage of Help to Buy you can now also benefit from the Help to Buy ISA.

If you reserve a home with Help to Buy you are eligible for the associated ISA, which boosts your savings by 25%; every £200 you save, the government tops it up with £50 to a maximum of £3,000.