Question about the government's new Help to Buy Scheme (Equity Deposit Loans)

Autumn868

Hello I was wondering if anyone can help me-

I am planning on saving-up £9,000 over the next 6months to use as a deposit to get a mortgage on a 2 bedroom apartment (costs between 160k - 180k).

I have looked on the government's help to buy scheme page, and read about the new scheme called the Equity Loan Scheme.
When ive gone into the links of it, it directed me to the regions scheme for the county that im planning on moving to/buying that flat in, Essex. And showed a list of about a dozen flats which are under the scheme.

However are those properties literally the ONLY ones which you can use this scheme in con-junction with? :O
Or can it be used for all newish properties (built within the last 5-10years for example)?

As ive already chosen the block of flats which im going to purchase the apartment in, but so need to try and findout if this scheme will be eligible with that block.


Also if I email the estate agent who is marketing the flats, will they be able to tell me for certain if that scheme would be able to be used for purchasing them?


Thanks

Futuristic

Developers need to register to the Help To Buy schemes, usually developers site should say whether it is part of the scheme.

Unless it's just small development you should go direct and deal with the developers (search street / house build name etc) as estate agents probably get some commission you can get price lower going direct too.

Autumn868

Hello and thanks for your reply.

Do you know how I can findout the name of the developer please?

As ive googled the name of the street on which the apartment blocks are situated on, but that just takes me to websites like zoopla and primelocation where those properties are listed, but just shows the estate agency who is marketing it.

They are all built in a complex very close to a university, but are private builds, not owned by the uni.

Futuristic

Autumn868 wrote: »

Hello and thanks for your reply.

Do you know how I can findout the name of the developer please?

As ive googled the name of the street on which the apartment blocks are situated on, but that just takes me to websites like zoopla and primelocation where those properties are listed, but just shows the estate agency who is marketing it.

They are all built in a complex very close to a university, but are private builds, not owned by the uni.

Whats the link to Zoopla?

kingstreet

HTB EL is newbuild only.

You need to contact local/national developers and establish what they offer on the scheme.

Ignore the HTB Agent as you may find you are channeled to their shared ownership property which is also "Help To Buy."