Alternatives to Help to Buy

Applications are now closed for the Help to Buy loan scheme in England and there has been no announcement of a replacement, so what other help is available?

Shared Ownership is another scheme that helps first-time buyers get onto the property ladder where you start by buying 25% of your home and pay rent on the remaining 75%. You can increase your ownership share in the future. However, with this scheme you are limited to either a new build home or one that is being resold through the scheme.

There has also been a temporary change to the amount of Stamp Duty payable on house purchases in England and Northern Ireland. The threshold at which you start to pay Stamp Duty has been raised from £125,000 to £250,000. If you’re a first-time buyer, you won’t pay any Stamp Duty up to £425,000.

Get in touch with a member of the team today to discuss your future. Call 0207 427 6067 or email enquiries@bennisonbrown.co.uk.

Your home may be repossessed if you do not keep up repayments on your mortgage