*Help To Buy example based on the 1 bedroom Carden apartment - £167,495
This example is based on a purchase price of £167,495. Monthly costs based on a repayment mortgage of £133,995 (£8376 deposit contribution from buyer (5%) and £25124 (15%) from help to buy scheme) and lender's fixed rate of 1.89% for 2 years from completion, reverting to the lender's variable rate for the remaining of the term, currently 3.59%. The overall cost for comparison is 3.48% APRC. Interest rate correct as at 13/07/21, source Trigold. Calculated over 35 years the monthly cost on 2.19% is £463.35 for 24 monthly payments and then 3.59% variable, £553.91 for 396 monthly payments . The total amount payable would be £231063.47. An arrangement fee is payable to the lender on completion of £999. Early repayment charges apply to the end of the incentive period. This example is also based on using the Scottish Government Scheme – Help to Buy (Scotland). They will retain a 15% share of the property, which must be repaid on sale of the property. Typical example - if the property is sold for £200,000 then 15% (£30,000) is payable to the Scottish Government. Terms and conditions apply. The actual rate will depend upon your circumstances. Payments are indicative and full mortgage advice should be sought. Loans are subject to availability and subject to status. This firm does not charge a fee for mortgage advice.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Gail Reid Mortgage Services Ltd (FCA 715809) is an appointed representative of PRIMIS Mortgage Network Ltd which is a trading name of First Compete Ltd which is authorised and regulated by the Financial Conduct Authority