HomeBuy Direct is an equity loan product designed to help First Time Buyers and other eligible groups into affordable home ownership by purchasing a brand new property from a builder/developer.
An equity loan of between 15% and 30% of the home's market value will be offered to eligible applicants and is co-funded by the Government and the developer.
The remaining 70% to 85% in the home will need to be funded by a mortgage and deposit. A minimum deposit of 5% is required to purchase through HomeBuy Direct
The equity loan is interest free for the first five years, from the fifth anniversary an interest charge of 1.75% is payable on the equity loan.
If you have purchased a home through HomeBuy Direct please contact My First Home on 0845 470 0121 or see www.myfirsthome.org.uk
There are currently no properties available in Hertfordshire under HomeBuy Direct. Properties may be available in other areas, so please visit www.homebuy.co.uk for details and availability.
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