The Help to Buy equity loan scheme has been around now since 2013, and with many people coming to the end of their five-year interest-free period on their Help to Buy equity loans, many are asking the same question – what are my repayment options? The good news is that there are a few different routes that you can take when paying back the equity loan – and we at Mortgage Light have experts that can help you decide which is best for you.
Firstly, let’s explain a little more about the Help to Buy equity loan
The Help to Buy equity loan is a government scheme designed to make the property ladder more accessible for those who are struggling to save for a house deposit. When it initially launched it was available solely to first-time buyers however, it is currently open to anyone looking to move into a new build property in England. There are similar schemes available in Wales and Scotland however, they are subject to slightly different rules. [Read more…]