Shared equity
With an equity loan such as FirstBuy
you own your property outright but only pay us 80 per
cent of the price now.
You get an equity loan for the remaining 20
per cent and pay us interest at 1.75 per cent of the loan
after 6 years. And you only need a 5% deposit! You pay back the
loan when you sell the property or after 25 years, whichever is the
sooner.
Eligibility
- First Time Buyer
- maximum £60,000 household income
- You must not have CCJs, been declared bankrupt or had a
home repossessed
- You need sufficient savings for the 5% deposit and
purchasing costs
- Local conditions may apply
- You'll need to have your application approved by the local
HomeBuy agent in your area