| Pheasant Close, Four Marks, Hampshire

For Sale 1 bedroom flat
Property value £125,000
Share percent 25%
Share percent price £31,250

HomeBuy Direct

A new equity product from the Homes and Communities Agency, working in partnership with developers. It is designed to help first time buyers buy a new build home from a property developer. Eligible applicants will need to take out a mortgage of at least 70% of the purchase price. This is topped up with an equity loan. The Homes and Communities Agency and the developer provide assistance in the form of two equal equity loans to make up the cost of the up to 30% of the full purchase price. The equity loans are interest free for the first 5 years. After that a fee is payable on the equity loans of 1.75% rising annually by the Retail Price Index (RPI) plus 1%. Your HomeBuy agent will assess and approve your eligibility for HomeBuy Direct.

For more details see the attached booklet (210 KB).

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