Kaan Emin Ozkaptan T/AS Apply Mortgages is an Appointed Representative of Julian Harris Mortgages Ltd, authorised and regulated by the Financial Conduct Authority No. 304155. There may be a fee for mortgage processing, the precise amount will depend on your circumstances but we estimate it will be £299. Your home(property) may be repossessed if you do not keep up repayments on your mortgage. Please note Buy to Let mortgages are not regulated by the FCA.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk.

HELP TO BUY

Aiming to get a step on the property ladder proves to be difficult for many people. A deposit proves to be the main struggle when reaching the point in life to make your first purchase, this is where the government step in with various help to buy schemes. This is aimed at people who wish to reach a goal of owning a property. Within Apply Mortgages we have seen many clients use this approach, everyone has to start somewhere and why not look into the help that is being offered.

Help to Buy: (Equity Loan) 

The equity loan scheme only applies to new build developments.

  • Help to Buy is available to homeowners as well as first time buyers.

  • Available on New Build homes up to value of £600,000.

  • A Mortgage of 75% of property value is required.

  • The government will lend you up to 20% towards the cost of the property you wish to purchase.

  • 5% deposit is needed by applicants applying for the scheme.

  • Which equals to an overall 25% towards the purchase of your new build development.

  • No charges will be applicable towards the 20% equity loan for the first five years.

  • When you reach the 6th year, a charge of 1.75% of the loan’s value will be applicable. The fee will look to increase every year but only in line with inflation.

You will find that the larger the deposit you are able to put down, the more options you will have when choosing a mortgage product. This is where the help to buy equity loan scheme would help first time buyers.

Help to Buy: (ISA)

If you are not technically looking to purchase a property right now, but have an aim to purchase a property by a certain stage, the most obvious way would be to start saving your deposit. With a Help to buy ISA account scheme you could potentially increase your savings;

  • Government offers to boost your savings up to 25%

  • If you were to have savings of £200 each month, £50 will be topped up by the government each month.

  • If you were to visit the help to buy website , you are able to use the calculator. Based on the amount savings you enter through this scheme, it will provide figures based on subject to terms and conditions around minimum & maximums.