Homebuy Loan

Homebuy Loan

A homebuy loan is one which is used to buy a property under a homebuy scheme. Homebuy scheme Homebuy schemes are often run by housing associations looking to sell of their property and are a type of initiative aimed at encouraging home ownership amongst those people who may not ordinarily have the means to purchase their own home. Generally, you will have to obtain a mortgage for 75% of the property value, while the RSL (Registered Social Landlord) will front the rest of the money. The RSL will retain there share and if you sell the property they will keep the same proportion of the sale proceeds, including any gains that are made.

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Latest News

  • Struggling to get a mortgage? Its a sad fact that in todays climate, if you’ve got less than 10 per cent equity in your home, then it’s now very hard to find anyone to lend to you. Nationwide have recently stopped lending to anyone other than existing customers with less than 15 per cent equity and [...]
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  • Help…we’re buying a new house If you’re buying a property, and are looking for a new mortgage, you’ll find that there’s not much on offer at the moment. This week, almost every lender withdrew all of their new tracker mortgages, as they waited to see what the Bank of England would do with interest rates. Meanwhile, there are [...]
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