What is the Help to Buy Scheme?

How to buy a Forty/8 property using the Help to Buy: Equity Loan

The UK Government’s Help to Buy scheme helps first-time home-buyers and existing homeowners to buy a new-build property by providing additional financial support for the purchase of selected new-build properties up to the value of £600,000. 

Forty/8 is proud to announce that our luxury apartments at Aria in Leicester and  Orleans House in Liverpool can now be purchased with the Help to Buy scheme, using the Help to Buy: Equity Loan. 

What is the Help to Buy: Equity Loan?

The  Help to Buy: Equity Loan allows a first-time home buyer to dramatically lower the cash deposit and mortgage amount required to purchase their first home.   

To qualify for a Help to Buy: Equity Loan you need to:

  • Be a first-time buyer or a property homeowner looking to move
  • Purchase a  newly built property under £600,000
  • Never sublet this home or enter a part exchange deal on your old home
  • Not own any other property at the time you buy your new home with a Help to Buy: Equity Loan

You can find out more details about eligibility on the Help to Buy: Equity Loan website or by viewing this video.

If you qualify for a Help to Buy: Equity Loan, the UK Government will lend you up to 20% of the cost of an approved new home. This means that you only need a 5% deposit and to be able to obtain a mortgage that covers the remaining 75% of the property price. 

For example, for a property priced at £200,000, you will only need a deposit of £10,000 and a mortgage of £150,000 as the Help to Buy: Equity Loan will provide the remaining 20% of £40,000.

The Help to Buy: Equity Loan is interest-free for five years. If you decide to sell our property, you will need to pay back the loan in full from the proceeds of your sale, or if you want to remain in your home, you will pay back your Equity Loan at the agreed interest rate. 

Find out more about the Help the Buy: Equity Loan in this video or visit their Frequently Asked Questions page. 

Which Forty/8 Developments are eligible for the Help to Buy Equity Loan?

We currently have two developments - Aria in Leicester and Orleans House in Liverpool - that are eligible to be purchased with a Help to Buy: Equity Loan.

If you’d like some more information or have any questions about the Help to Buy: Equity Loan, talk to our helpful team on  020 7907 5555 or email info@forty8developments.co.uk.

Aria, Leicester

Aria is a new development of luxury one and two-bedroom apartments in the vibrant city of Leicester. Our apartments have been designed for contemporary urban living, and their already affordable prices become even better when you add the benefits of using the Help to Buy: Equity Loan.

Our apartments set the tone for an exceptional standard of living with high specification kitchens and bathrooms and all appliances included, as well as a beautifully designed entrance lobby, with concierge service.

To purchase a one bedroom Aria apartment priced at £137,000, using a 20% Help to Buy: Equity Loan of £27,400, you would need:

  • 5% deposit of £6,850
  • 75% mortgage of £102,750

To purchase a two bedroom Aria apartment priced at £170,000, using a 20% Help to Buy: Equity Loan of £34,000, you would need:

  • 5% deposit of £8,500
  • 75% mortgage of £127,500

If you are interested in buying an apartment at Aria with Help-to-Buy Equity Loan, contact our sales team by phone 0116 255 9733 or email  enquiries@arialeicester.co.uk

Orleans House, Liverpool

Nestled in the heart Liverpool’s bustling commercial district, Orleans House is a Grade II* Listed development offering a sophisticated space to relax and entertain, while restaurants, shops, amenities and transport links are all on your doorstep.

Orleans House is a popular development with 65% of apartments already sold. The spacious one, two, and three-bedroom luxury apartments are designed to take advantage of the natural light and all apartments feature modern finishes for contemporary living.

To purchase a two bedroom Orleans House apartment priced at £167,000, using a 20% Help to Buy: Equity Loan of £33,400, you would need:

  • 5% deposit of £8,350
  • 75% mortgage of £125,2500

If you are interested in buying an apartment at Orleans House with Help to Buy: Equity Loan, contact our sales team by phone 0151 236 7777 or email  enquiries@orleanshouseliverpool.com