The Help to Buy scheme is not only for first time buyers but also existing homeowners looking to move to a new build property. The scheme offers interest free loans of up to 40% for properties in London and 20% in other areas. Whilst the scheme can only give you access to properties below £600,000 it opens up the possibility of moving into your dream home sooner than anticipated.
The Help to Buy scheme is continuing to keep dreams of home ownership alive for young Londoners. Under this scheme, the required deposit equates to five per cent of the purchase price, alongside a smaller mortgage loan of 55 per cent.