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Joint development by FABRICA and Higgins

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25 | 03 | 22

All you need to know about the Help to Buy: Equity Loan scheme

With this scheme now ending one year from now on 31 March 2023, you have less than a year to take advantage of the equity scheme to get on the property ladder. Why wait?
Blog 8 - HTB image
If you dream of owning a home but can’t come up with the hefty deposit, know that you’re not alone. Let’s face it: a saturated rental market, a shortage of homes and high living costs all contribute to the fact that buying a home these days is not as easy as it used to be. Unless, of course, you get a little help from the government – and us. Thanks to the Help to Buy (HTB): Equity Loan scheme, a new world of possibilities has opened up to prospective homeowners. And, it’s pretty straightforward too, as our handy Six W’s guide will show you.

WHO is eligible?

The scheme is for first time buyers meaning that you have never owned another property either in the UK or aboard. All properties available on the HTB scheme must be new builds, none exceeding the maximum price tag of £600,000 in London. Take Hanwell Square, for example, our new development in the heart of leafy Ealing which will be available to buy with HTB as of 23 April – making a West London postal code an affordable reality for first time buyers.

WHAT is it, exactly?

In a nutshell, the HTB: Equity Loan scheme is all about enabling people to enter the UK property market. It provides a loan, called an equity loan, that you put towards the cost of buying a new build. What was once an unattainable pipe dream for most is now an affordable reality for many. With as little as a 5% deposit, the government will give you an equity loan for up to 40% of the purchase price for new homes in London. So, say you’re buying one of our brand-new Hanwell Square apartments for £310,000 you’d need just £15,500 for a deposit.

WHEN can I sign up?

Fill out the enquiry form and we’ll make sure you are invited to our official HTB launch event on the 23rd of April.

WHY sign up?

Because it saves you from forking out a huge deposit, finally making owning your own home an affordable and achievable goal in a shorter space of time.

HOW can I do this?

To get started, contact your nearest government-appointed Help to Buy agent, who will guide you through the process from start to finish and help you with the application itself. Of course, all HTB applicants must go through a financial assessment, and there’s plenty of guidance on the government website on how to apply for an Equity Loan. Here at FABRICA, we’re always happy to help with any questions you may have regarding our homes under the Help to Buy scheme. For more information about the new studio, one and two-bedroom apartments at Hanwell Square, please get in touch with one of our sales executives by calling 0208 825 2328 or by completing an enquiry form.

From April 2013 to September 2021, more than 345,000 properties were purchased with an equity loan, with a record of over 60,000 homes in the last year alone. With this scheme now ending one year from now on 31 March 2023, you now have less than a year to take advantage of the equity scheme to get on the property ladder. Why wait?