Ten years after its enactment in April 2013, the Support Purchase Capital Loan Program will expire on March 31, 2023.
But if you think that sounds like centuries, it is not.
The deadline to apply for the scheme is October 31 of this year at 6:00 p.m.
Initially, purchase assistance was available to both first-time buyers and existing homeowners of newly selected homes up to 000600,000.
However, since the introduction of low price restrictions in the region last year, it has been limited to first-time buyers who cannot access mortgages due to lack of deposits.
This means credit buyers with a 5% cash deposit can apply for a government-sponsored loan at 20% of the purchase price.
This means they only need a 75% mortgage, so they have better access to deals than when they borrow more. To reflect high property prices, the maximum loan amount in 2016 was doubled to 40% in London, requiring 55% mortgages.
The loan is interest-free for the first 5 years (although there is a monthly management fee). From the 6th year we will pay interest of 1.75% per month and add 2% per year to the consumer price index.
When you sell your home, you will be reimbursed as a percentage of the market value, but this may be faster.
The plan was criticized, including by those who blamed rising house prices, but it was a lifesaver for many.
According to recent government data, since 2013, 355,634 homes have been purchased with Help to Buy loans, representing 83% of first-time buyers.
As the deadline approaches, inventories of homes offering this scheme are already running low. So check out the reviews and start booking your views now.
London (price £600,000)
Good luck hope, Canning Town, E14
30 to 430,000
On Saturday, June 18, 30 suites and 10 one-bedroom apartments will open on this boardwalk with the help of all purchases.
Goodluck Hope residents have access to an indoor pool, fitness center, movie theater, 24-hour concierge, and Sky Lounge on the 29th floor, developed by developer Balimore.
Check it out at Goodluck Hope.
Cool Dock, Barking, E11
From 5305,000
One, two or three bedroom apartments in Till Point. The last phase of this 911 housing plan, a 10-minute drive from downtown.
Each has its own outdoor area, built-in kitchen appliances, and hardwood floors throughout.
Check it out through the village.
Eastman Village, Hi, HA1
From 3313,000
The former Kodak factory grounds have been reborn as a new community of over 2,000 homes, including one- and two-bedroom SMRT apartments designed to maximize space at attractive prices.
All rooms have built-in storage room, balcony or terrace.
Check it out at Barratt Homes.
Zero, Raynes Park, SW20
From 0041 million
Carbon neutral scheme with solar panels on regular electricity, triple glazing, super energy Siemens appliances and low running costs.
Purchase assistance is available on all one and two bedroom apartments with balconies.
Check it out through the hamptons..
Arden Parkside, Lewisham, SE10
From 00460,000
Purchase assistance is available for one-bedroom apartments in two schemes in this area.
Hotel facilities include concierge services, a concierge center, fitness kit, and a cozy cinema-style space.
Check it out with Peabody..
Southeast (Price 7 437,600)
View of the paddock, Yapton, West Sussex, BN18
15 to 415,000
Only a few isolated 3-bedroom, 2-bathroom homes are available here with the help of purchases.
Each has an open plan kitchen/dining room, a separate living room with French doors onto a spacious garden, a wardrobe, a utility room and a hallway.
Check it out through Dandara.
Horlicks Quarter, Slough, Berkshire, SL1
From 7367,000
The two-bedroom apartments in the newly built block of Darjeeling and Artesian Houses are part of the Cult Holic Factory restoration.
Nearby there is also a toy library, a gym, a collaborative work center, a cinema and a tram train station.
Check it out through the Berkeley Group.
Springfield Park, Maidstone, Kent, ME14
From 4204,000
Located on the banks of the River Wey, this development includes a variety of one-bedroom apartments available from Help to Buy.
An upscale touch includes a built-in soap dispenser with a boiling water faucet in the kitchen, but a cleaning mirror in the bathroom is standard equipment.
Check it out at Weston Homes..
East of England (price £407,400)
All Angel Spark, Highfield Call Decot, Cambridge, CB23
2 to 382,995
Eight miles from Cambridge, this rural scheme provides assistance to the couple for a three-bedroom type of house.
They feature two detached parking lots, a master bedroom property, and a spacious rear living area.
Check it out at Linden Homes.
Henry’s Gate, Ipswich, Suffolk, IP1
From 5335,000
Choose from the first collections of three- and four-bedroom homes in three neighborhoods to create a new landscaped suburb with a school and country park just a 10-minute walk from the city center.
Check it out through Crest Nicholson.
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Source: Metro
I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.
