Help to Buy
Help To Buy is now only available to first time buyers on new build home. The maximum depends on the Region you are looking purchase in. You are not allowed to buy this as an investment or sub let the property in the future. You are only eligible if this will be the only property you own.
How It Works
- It will need to be an eligible New Home and be your main residence
- You will need to contribute a minimum deposit of 5% of the purchase price
- The Government will give you a loan up to 20% of the purchase price
- You will need a mortgage of at least 75% to make up the rest
- There is no monthly payment on the Equity Loan in the first 5 years
- After 5 years there is a monthly interest payment applicable starting at 1.75% if the Equity Loan value
- When you pay back the Equity Loan it will be 20% of the property value (whether it increases or decreases)
The Help To Buy Agency will have their own affordability process which your MCB Adviser will discuss with you and ensure you meet their criteria. They will also be on hand to guide you through the process of applying for the Equity Loan from start to finish.
The mortgage lender will also have their own affordability calculator and special products for Help To Buy which your Adviser will be able to discuss with you to find the best deal for your circumstances.
Help To Buy mortgages can be complex and you need to know the full process and how to apply. Our experience in this market will help you find exactly what you need. We are always available for any questions as here to help you be kept informed and comfortable with the whole process. Our friendly advisers will deal with other parties on your behalf to ensure you get the mortgage and equity loan sorted efficiently.
If you are considering Help To Buy then please contact our specialist Advisers today who will guide you through the process
Your home may be repossessed if you do not keep up repayments on your mortgage. Buy to Let Mortgages are not regulated by the Financial Conduct Authority.
*This is a lifetime mortgage scheme. To understand the features and risks, ask for a personalised illustration.
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MCBs knowledge of the financial market is superb. They give honest advice in a way that is easy to understand. We have always found them easily contactable and quick to answer any questions or queries we have. I have never received anything but first class standard from them.
Sonia in Norwich
Excellent fact finding and customer understanding in first instance. Worked tirelessly to find right products which I felt were not only competitive but explained the small detail, which is so often overlooked. Paul also gave a long term view/strategy. An all round first class service.
Andy in Norwich
Great firm, honest, pragmatic and professional advice. I've always found Mark and his team to be really helpful - a rare find in an often bureaucratic industry, highly recommended!
James in Norfolk
Customer at the heart of everything
When dealing with MCB, I've felt they put the customer at the heart of everything they do. In my own personal experience I received excellent customer service for my own mortgage, they sat down with me to understand my needs and showed a genuine interest on helping me achieve this. I was kept up to date throughout the whole mortgage process and would thoroughly recommend MCB to anyone needing guidance/reassurance on help their finances.
Matthew in Norwich
Mark and the team are superb. No silly jargon, no hard sell, just good old fashioned customer service and advice. Highly recommended, and will use them again and again. They have already helped me on several occasions. I have also recommended them to friends and colleagues.
Richard in Suffolk