The equity loan is available for First Time Buyers or existing home owners who want to move up or down the property ladder – there are some specific eligibility criteria you need to consider:
The property you want must be newly built
It must cost no more than £600,000
You must be buying the property to live in and not for buy-to-let
You must not own any other property at the time you buy the new home
Buyers hoping to use the current Help to Buy Equity Loan scheme in England have just over a month to do so as the scheme will close to new applications on 15th December 2020. Those applicants will then have just over three months to complete their purchases by the 31st March 2020 deadline.
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