Live Zero with Help to Buy

Did you know you can buy one of our Zero Carbon Smart Homes™ through Help to Buy? If you’re a first-time buyer, you could be eligible for the government’s new equity loan scheme  Bringing the dream of zero carbon living within reach. Here’s everything you need to know.

What is Help to Buy?

Help to Buy is a government initiative which helps first-time buyers get onto the property ladder. There are ISA and shared ownership options within Help to Buy. But it’s the equity loan aspect which is really exciting if you’re interested in buying a Verto home.

With this scheme, when you put down as little as 5% deposit on a newly built home, you can get a government loan for up to 20% of the purchase price.

How does it work?

• The government’s equity loan of up to 20% is effectively an interest-free mortgage for the first five years of your home ownership. Giving you a more affordable way to own your home. After five years, an interest fee of 1.75% will be applied, rising each year by 1%.
• You can repay this loan at any time during the term of your mortgage or when you come to sell your home.
• To be eligible for a government equity loan, your new home needs to fall below the regional price cap. For much of the Southwest, that’s £349,000 (fixed between April 2021 and March 2033).
• With 25% of the property value covered by your 5% deposit and the government’s 20% loan, you’ll need to secure a mortgage for the remaining 75%. Your mortgage must be capital repayment (not interest only).
• Help to Buy is only valid for buyers planning to live in the property, not buy to let.

Buying a Verto home with Help to Buy

Once you’ve found a Verto home you’d like to buy below the regional price cap, you’ll need to pay a reservation fee. The terms of the Help to Buy scheme require you to pay this before you can apply for your equity loan. If for any reason you are found to not be eligible for Help to Buy, we’ll repay your reservation fee in full.

With your finances taken care of, everything else follows our regular home buyer process, which we’ve explained in detail in our helpful buyer’s guide.

We’re here to help

Whichever path you take towards purchasing a Verto home, our team is here to make your buying experience as smooth and effortless as possible.

If you have any questions about using Help to Buy to purchase your Verto home, feel free to get in touch.

You can also visit www.helptobuy.gov.uk for more information on this scheme.