Buying a home can be a daunting prospect. At Lovell we’re here to lighten to load and guide you through every step of the buying process. We have a number of ways to make purchasing a new home easier, helping you to make the move into your ideal home.
Why Buy New?
You may dream of owning a period property, but this dream can quickly fade when extra costs for repairs and maintenance start to pile up.
You can purchase your new home with peace of mind that our homes come with a 10-year NHBC Buildmark policy which includes deposit protection from exchange of contracts, a two-year builder warranty from legal completion, and then eight years of structural defects insurance cover. For more details, please visit www.NHBC.co.uk
We admit, we may be a little biased. But we love new build homes! But for good reason, there as so many benefits of buying a new build home. From practicalities of lower maintenance and running costs - to making a fresh start in a home designed just for you. Choosing to buy a modern home, you'll soon discover the many advantage of purchasing a new build home.
You might also like the cost of moving house
Help to Buy: London
Help to Buy scheme is available in London exclusively to first-time buyers on New Build Homes.
How does the scheme work?
If you’re buying a new build home in London, you can now get even more help from the government with the London Help to Buy Scheme.
This scheme is similar to the standard Help to Buy Equity Loan, but allows buyers in London to benefit from a 40% loan from the government on purchases of new build homes under £600,000.
With the equity loan, the government lend you up to 40% of the value of your brand new home. All you need to pay is a 5% deposit, with a mortgage of 55% to cover the rest of the costs. And what’s more, your loan will be interest free for five years after the purchase of your brand new home. The loan must be repaid after 25 years, or when you sell your home.
The scheme is open to UK residents currently living in the UK, including first time buyers and those looking to move from their current property. It can be used in any district of London, as well as the City of London.
For more information please click here
Help to Buy: ISA
The Help to Buy ISA is a tax-free savings scheme, designed to help first time buyers save up enough money for a deposit on their first home.
With the scheme, which will run until autumn 2019, the government will contribute an extra 25% on top of your savings. You can save a maximum of £200 per month, as well as an initial £1,000 deposit. So, in the first month, you could save £1,200 on top of which the government will add an extra £300.
If you pay in the maximum £1,000 deposit as well as £200 every month until you reach £12,000, you’ll get a bonus of £3,000 – which gives you an overall total of £15,000. You can claim the bonus as soon as you’ve saved £1,600, which would mean a £400 bonus.
You can open a Help to Buy ISA with a bank or building society, just like a normal cash ISA. Once you’ve opened an ISA, you can pay into it for as long as you like, and there are no limits on when you can use your bonus.
Who is eligible for a Help to Buy ISA?
If you’re a first time buyer, you can open up a Help to Buy ISA, as long as you’re over 16, even if you’re buying a property with someone who isn’t a first time buyer. You can’t get a first time buyer ISA if you plan to rent out the property, or if you’ve previously owned or inherited a property in the UK or abroad.
You can’t have a Help to Buy ISA and a regular cash ISA in the same tax year. If you’ve opened up a new cash ISA (or paid into an existing one) in the current tax year, you won’t be able to open a savings account as a first time buyer until the new tax year.
Part Exchange* from Lovell means you will have a guaranteed cash buyer for your house without going through the normal worries of selling your property, without paying estate agent fees and without worrying about chains collapsing at the last minute. This peace of mind allows you to plan ahead and look forward to moving into your new home as quickly as possible.
Our representatives will view your home and take advice from three independent estate agents on its value. We will then make you an offer and should you choose to accept it, we will immediately reserve the Lovell home you wish to buy. You don’t even have to move out until your new home is ready.
This peace of mind allows you to plan ahead and look forward to moving into your new home as quickly as possible.
Buying a new home is always a big step and undertaking a Part Exchange is a new experience for many people, therefore throughout the process the Lovell team will always be available to answer any queries and provide guidance.
Quite simply, that’s it. You no longer need to worry. You benefit from a guaranteed buyer, a quick and easy buying and selling process and no estate agent fees.
Click here for more information
If a buyer for your existing home is in place but they still need to sell theirs, Chain Breaker solves the problem straight away.
The Lovell Chain Breaker* guarantees the end of a chain as we will purchase your buyers home - they can then move into your property and more importantly, you can move into your chosen Lovell home without delay.
*Offer available on selected developments and properties and subject to our terms and conditions. It is important you speak to our Sales Executives to find the right home for you before committing to Part Exchange.
Helping Hands Scheme
Selling your existing home has never been easier with Lovell's Helping Hands scheme. If you’re looking to buy a new Lovell home, we’ll help you sell your current property – and we won’t charge you any estate agent fees.
Subject to availability, our sales advisors will guide you through the scheme, starting with arranging an independent valuation of your existing property. Once you've agreed a marketing price, they'll reserve your chosen Lovell home for a pre-arranged period, giving the estate agent plenty of time to negotiate the sale of your existing property. At all times during the Helping Hands scheme process, we’ll be in touch with you, offering advice and answering any questions you might have, and keeping in close contact with the estate agent.
Once a buyer has been found, our sales advisor will take you through the final process and legal completion of the sale – leaving you free to enjoy your brand new Lovell home.
Click here for more information