Do redrow offer Help to Buy?

Help to Buy scheme: move into your first home with just a 5% deposit* Make the most of this Government-backed scheme for Help to Buy homes and move into your Redrow new build home with as little as a 5% deposit. *Help to Buy: Equity Loan, subject to eligibility, terms and conditions.

How much deposit do I need for Help to Buy?

5%
You will require at least a 5% deposit of the full purchase price of the property. While there are no minimum or maximum income brackets, you must be able to fund at least 80% (60% in London) of the purchase through a combination of deposit and mortgage.

Does Help to Buy have to be on a new build?

The scheme is only available to new build homes, and regional price caps do apply. In London, the scheme is available on new build homes priced up to £600,000. In London, you can borrow up to 40% of the cost of the home, with a maximum property price of £600,000.

Can you put more than a 5 deposit down with Help to Buy?

Yes, you can put down a deposit bigger than 5%. For example, you could put down 30% yourself and still get a 20% equity loan, meaning you’d only need a 50% LTV mortgage.

Can I buy a new build with a 5 deposit?

Yes, with many mortgage lenders having 5% of a property’s value can help you to qualify for a mortgage. Bear in mind that low deposit agreements can sometimes come with higher rates of interest so it could be worth considering saving a larger amount in order to borrow less if this is something you’re able to do.

Can you put more than 5 deposit on help to buy?

Is the Help to Buy ISA for new builds only?

Unlike some other Government schemes, you’re not restricted to buying a new build; any property works – provided you’re buying with a mortgage (you won’t get the bonus if you’re a cash buyer).

Can you use Help to Buy on a old house?

You can’t buy a home with an interest-only mortgage. You can’t part exchange your existing home for a Help to Buy home. You cannot rent out your existing home to buy a Help to Buy home. You can increase your mortgage, but only with permission from the Post Sales HomeBuy agent.

Can I use Help to Buy if I have previously owned a property?

Here, we guide you through what each Help to Buy scheme offers. In fact, they’re also available to previous homeowners, as long as they don’t own another property at the time of their Help to Buy purchase. You can’t use the scheme if you’re purchasing a buy-to-let property, or a second home.

How can Redrow help you move into your new home?

A helping hand from Redrow. From paying a contribution of your Stamp Duty or using Help to Buy, Redrow offer more ways than ever before to help you move into your perfect new home.

Can you put more than 5% down for help to buy?

These aim to make sure the scheme is accessible to those who will gain the maximum benefit. Can you put more than a 5% deposit down for Help to Buy? Yes, you can, although it’s always best to discuss this sort of thing with your financial advisor, to make sure that you settle upon the best mortgage plan for you.

What happens if you change your mind about Redrow?

Reserve your Redrow home before its official release for sale with no obligation to proceed if you change your mind. If you’re in the British Armed Forces, take a look at the Forces Help to Buy scheme and learn how you could be living in a new Redrow home. Recommend a friend and we’ll give you £500!