HELP TO BUY

WHAT IS HELP TO BUY ?

Help to Buy is a Government backed equity loan aimed at helping you purchase your new home. The scheme is open to both first time buyers and existing homeowners looking to move, on new build properties up to a maximum value of £600,000. Using the scheme, purchasers only need a 5% deposit and a 55% mortgage to qualify for a 40% interest free equity loan backed by the UK Government.

YOU OWN 100% OF YOUR HOME

USING THE HELP TO BUY SCHEME AT UPPER RIVERSIDE IS A PRIVATE PURCHASE AND THEREFORE YOU WILL OWN 100% OF YOUR HOME.

This means you’ll have access to the Residents’ Club including, Roof Terrace, Pool, Gym, Cinemas and other facilities available through the neighbourhood. You also purchase a home that has been created by an acclaimed designer, choose a home that’s as interesting as you. Want to find out more? Contact our sales team below.

DESIGN

Quality comes from the inside, with materials that speak of solidity and refinement.

RESTAURANTS & CAFES

With a selection of bar and dining options on your doorstep, you decide to go casual or chic.

CO-WORKING

Find your brightest ideas here.

CINEMA

Pop some corn and grab yourself the best seat in the house.

GYM

Work out in style with Tom Dixon designed spaces

POOL

An evening dip, never looked so tempting

HOW DOES THE SCHEME WORK?

The Government backed scheme, allows first time buyers to get onto the property ladder sooner.

 

The equity loan is interest free for the first 5 years, after which there is an annual fee of 1.75% of the outstanding equity loan. This is increased annually by RPI plus 1%. The equity loan must be repaid after 25 years, or earlier if you sell your home.

 

Equity Loan is available to homebuyers regardless of their annual personal income with mortgages available from a number of high street lenders.

 

AT UPPER RIVERSIDE PRICES FOR 1 BEDROOM APARTMENTS ARE FROM £550,000 WHICH MEANS THE BELOW FINANCIAL BREAKDOWN:

 

  • 5% DEPOSIT £27,500
  • 40% HELP TO BUY LOAN £220,000
  • 55% MORTGAGE £302,500

 

Use our Help To Buy calculator below to do the numbers yourself

 

 

 

MORTGAGE CALCULATOR

£
Minimum income is £70,000
%
£66k
min £550k
Results With Help to Buy
Estimated monthly mortgage repayment £-NaN
5% deposit £3,300
40% Help to Buy Equity Loan £26,400
55% mortgage £36,300
Property value £66,000
SIGN UP NOW TO FIND OUT MORE. OUR SALES TEAM WILL FOLLOW UP WITH A PHONE CALL TO ARRANGE YOUR APPOINTMENT.


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