29th March 2018
London Help to Buy
REASON #2 TO MOVE TO TRINITY WALK
London Help to Buy is unlocking the door to home ownership!
If you like the homes at Trinity Walk, but don’t think you can afford to buy one – think again.
London Help to Buy is a government scheme is available at Trinity Walk on every home costing less than £600,000. It’s very simple: you put down a five per cent deposit; the government lends you 40 per cent of the purchase price (interest-free for the first five years) and you arrange a mortgage for the remaining 55 per cent. On a one-bedroom home at Trinity Walk costing £360,000, your deposit would be £18,000 and you’d receive a £144,000 government loan, leaving you to raise a £198,000 mortgage, which is possible with a single or joint income of circa £44,000. This is based on the general ‘rule of thumb’ that lenders will allow you to borrow up to 4.5 times your income.
London Help to Buy isn’t just for first-time buyers; home owners moving up the property ladder are also eligible. The scheme makes an enormous difference and nearly all our purchasers at Trinity Walk have benefitted.
Read brothers Sam and Will Sticker’s story and find out how they managed to purchase their new home here last year with a little help from the scheme.
For guidance on buying a home at Trinity Walk with London Help to Buy please contact our sales advisers on 02031 318 511.