Help to Buy

What is Help To Buy?

amplify apartments buildings

What is Help To Buy?

Help To Buy is an excellent initiative designed to help first-time buyers get on the property ladder and become a homeowner. With Help To Buy, you can buy your first home with just a 5% deposit and a government-backed loan of 20%, which is interest-free for five years.

Help to buy is only available on selected 1 bedroom homes at Amplify Apartments, enquire today to find out more.

How does Help to Buy work?

How does Help to Buy work?

With a Help to Buy loan, first-time buyers can own a home with just a 5% deposit.
As part of the scheme, the government will lend you up to 20% of the cost of your home, so you’ll only have to pay a 75% mortgage on the rest.
To make sure the scheme is accessible to those who will benefit most, there are regional price caps. In the North West this is capped at £224,400.

EXAMPLE: Purchasing a property valued at £172,000

(1)YOUR deposit

5% deposit as your contribution: £8,600

(2)THE GOVERNMENT LOAN

The government will top-up your deposit by 20%: £34,400

(3) YOUR MORTGAGE

You will then pay a mortgage on the remaining 75%: £129,000

Am I Eligible?

To qualify for the government bonus, you must fit into the following criteria:

  • You must be a first-time buyer 
  • Your home must be in the relevant regional price cap
  • You or anyone you’re buying a home with must not own a home or any residential land
  • The home must be where you intend to live and be used as your main property
  • You have not had any form of sharia mortgage finance previously

Own your piece of Salford Quays contact us on 0161 505 1043 or make an enquiry about reserving your new home today.