There are a range of schemes available to help people buy a home, or move up the property ladder.
Help to Buy: Equity loan
The Government lends you up to 20% of the cost of a new-build home. You need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home. The equity loan scheme is available for homes up to a maximum purchase price of £600,000.
Shared ownership schemes (part buy/part rent) are provided through housing associations. You buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. You can buy bigger shares at a later stage when you can afford to. Some shared ownership properties cannot be purchased up to 100%, in rural areas for example.
You can buy a newly built home or an existing one through resale programmes from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings.
Wealden District Council are developing 2 x two shared ownership houses with two allocated parking spaces to each house at Woodpecker View in Crowborough. Should you wish to add your details to our database please email email@example.com.
Come back to this page as it will be refreshed with the latest information as the project progresses.
To find out more about what options are currently available visit the Help to Buy website (external link)