Leeds BS to offer Help to Buy London mortgages in 2016.
When the government Help to Buy London scheme goes live next month, the Leeds Building Society advises that it will definitely be a lender committed to offering 2016 deals to buyers.
Help to Buy London was announced by the Government in its Autumn Statement. While the scheme in the rest of the country continues to offer buyers with 5% as a deposit, an interest free loan of up to 20% on a newly built property, in London the Government will offer up to 40% of the property’s value.
A spokesperson for the lender has advised that the Leeds is committed to the 2016 London Mortgage scheme which offers buyers in the capital a realistic and practical solution to buying a home.
Help to Buy has provided a means to purchase a home for low income buyers for the past 3 years, and has proved very successful. If you want a mortgage in 2016 but are a low income buyer, then this scheme maybe the way to go.
Before making a decision it is important to compare all products market wide. Help to Buy deals may not be the most competitive out there, it might be possible to find something more competitive with a lower rate at your deposit level without the scheme.
To find out about all mortgages, both Help to Buy and standard residential at your deposit level, call us at Deal Direct.
For advice and a home loan,
speak to an adviser on 0800 08 8828.
