Gladstone Park Garden View

There’s only a short time period left to buy a new build home with Help to Buy

If you are a first-time-buyer and looking to purchase a property up to the value of £600,000 in London, then you are able to buy a brand new home at Uniquely Cricklewood, with the Help to Buy: Equity Loan scheme.

Gladstone Park Garden View
CGI of the building view from Gladstone Park Garden

Launched on the 1st of April 2021, this is a Government-backed equity loan that allows first time buyers to contribute as little as a 5% deposit. Additionally, for those buying in London, you can borrow an equity loan of up to 40% which is interest free for the first five years, whilst the remainder of the purchase price is funded by your mortgage.

The aim is to help people get onto the property ladder at a time when homeownership is difficult due to the high deposits that are required and where access to affordable mortgages limited.

Time is of the essence however as the Help to Buy Scheme will no longer be available from 31st March 2023, which means there is only one year left to benefit from it.

Example: for a large 1-bed apartment purchased for £450,000 at Uniquely Cricklewood

If for example you were looking to purchase one of our apartments at Uniquely Cricklewood for £450,000, you will need a 5% cash deposit of £22,500. Your mortgage lender will loan you £247,500 (55%) whilst the Government would contribute £180,000 (40%).

How to buy a Help to Buy home at Uniquely Cricklewood

  1. Reserve a new build home with Unique Property Group
  2. Apply online through the Help to Buy agent in your region. Find out who that is here. (make sure this is set to open in a new window so that you’re not taking people off your website)
  3. You will be assessed on your eligibility and if successful, you will then be issued with an Authority to Proceed which will help you apply for a mortgage and progress the purchase to exchange of contracts
  4. Your Help to Buy agent will help you complete all of the paperwork and agree dates before issuing a Transaction Confirmation which will allow you to tranfer funds and legally complete on your new home
  5. After legal completion, your Help to Buy agent will then pass on your details to the equity loan administrator to manage the equity loan until it is paid in full

Find out more about how to apply for a Help to Buy Scheme on the Government’s website here.

What properties are available to buy at Uniquely Cricklewood on the Help to Buy Scheme?

Cricklewood is fast becoming a sought after area to invest in new build property. At our latest development here, prices start at £440,000, and with London set to a price cap of £600,000, this means we can offer many of our one and two bedroom apartments on the Help to Buy scheme. Click here to view our new homes at Uniquely Cricklewood.

FIND OUT MORE
For more information about our new build homes or to discuss the Help to Buy Scheme further, contact:
0207 409 8756 newhomes@savills.com