The Help to Buy: ISA launches on 1 December 2015
The Help to Buy: ISA launches on 1 December 2015 and is designed to reward those first time buyer clients who are working hard to save up for their first home.
First time buyers that choose to save through a Help to Buy: ISA will receive a Government bonus to help them make the critical first step onto the housing ladder. The bonus will represent 25% of the amount saved with a minimum of £400 and a maximum of £3,000. The bonus will be calculated and paid only when the client buys their first home. Clients can open their ISA with a maximum amount of £1,000 and can save a maximum of £200 per month.
We have lenders whom will accept the use of the ISA and Government bonus as a source of deposit. Some key points on using the Help to Buy: ISA are:-
You must be a first time buyer and never had an interest in any property in the UK or aboard
Maximum purchase price of £250,000 outside of Greater London (or £450,000 in Greater London)
Conveyancer must be registered with UKAR (the scheme Administrators) to accept the bonus from the Government (we have Solicitors we can recommend)
The Help to Buy: ISA is limited to one per person rather than one per home.
If you are interested in knowing more or would like independent mortgage advice in Eastbourne, feel free to call one of our Brokers on 01323 409 849 or email office@sentryadvice.co.uk
The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of Sentry Advice Limited. All comments are made in good faith, and neither Sentry Advice Limited nor the author will accept liability for them. No advice is given in any posting. Please contact your adviser for more information or advice.
Mortgages to Purchase a Property
Mortgages to purchase a property a fee of £495 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Remortgages
For processing a remortgage a fee of £295 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Rate Switch / Product Transfer
For processing a product transfer/rate switch where you are remaining with your current lender a fee of £145 is payable on application.
Adverse Credit
For applications where there is a history of adverse credit then a total fee of £495 will be charged, of which £245 is payable at the point a personal recommendation is made, whether you decide to proceed or not. The remaining £250 is payable if/when an application is made and is refundable if we are unable to obtain a mortgage offer.
Equity Release Mortgages
A total fee of £990 will be charged, of which £495 is payable at the point an application is made with a provider. The remaining £495 is payable if/when the application completes.
We can accept payment via bank transfer, credit/debit card via PayPal.
© 2020 Sentry Advice Limited (company number:8257351)
Sentry Advice Limited are authorised and regulated by The Financial Conduct Authority and are entered on the Financial Services Register (www.fca.org.uk/register) under reference number: 624557
Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it. All enquiries will be passed to a regulated Adviser with appropriate qualifications. The information on this website is for use of residents of the United Kingdom. No representations are made as to whether the information is applicable or available in any other country which may have access to it.
Head Office Registered Address: 89 High Street, Uckfield, East Sussex TN22 1RJ