Mortgages

              Bank Base Rate

 

                 The Bank of England Base Rate is currently 0.75%

 

 

Mortgages & Remortgages for the property that you live in.

 

 

 

Mortgages for property that you let to others.

 

How does it work?

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only 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. If the home in the example above sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.

 

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