A brand new one bedroom ground floor flat in a small development of 15. Completion is due end of 2018, Help to Buy scheme is available on this property along with a 10 year building warranty.
The listed price includes the 20% government help to buy equity loan scheme. The price without the scheme is £130,000. With the government's help to buy equity loan scheme you will need as little as a 5% deposit. The government will provide an equity loan of up to 20% - you will require a 75% mortgage.
Property Price: £130,000
Your 5% deposit: £6,500
Your 75% mortgage: £97,500*
Help to Buy price: £104,000
20% Equity loan £26,000
Total purchase price £130,000
*On a 25 year mortgage with an assumed interest rate of 1.4%, this equates to approximately £385 per month
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