Our Help to Buy mortgage calculator can give you a quick indication of the level of any loan which you may be eligible for under the scheme. The calculator will take into account your preferred location, your deposit amount, and the price of the property you’re looking to buy.
Use the Help to Buy calculator below to work out what size of additional deposit and repayment mortgage you’d need to move into your Cala home in Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands or Worcestershire.
The price cap for overall property value that you can purchase in the West Midlands region is £255,600.
The Help to Buy: Equity Loan scheme will end in March 2023. Please visit the Government’s Own Your Own Home website for more information.
Under the scheme, the government could lend you a minimum of 5% and up to 20% (or up to 40% if you’re in London) of the full purchase price of a new build home, provided that the homebuilder is registered for the scheme. However, the amount you pay for a home depends on where the home is located.
If you purchase your home under the scheme, you will have full ownership of your home and the government will have an equity share, until you repay the equity loan.
You must repay your equity loan in full:
To apply for the Help to Buy (England), you must be:
If you think you are eligible for Help to Buy and would like a modern and spaciously designed home from Cala, get in touch with one of our sales consultants today to book an appointment.
Your home may be repossessed if you do not keep up repayments on your repayment mortgage, equity loan or other loans secured against it.
Help to Buy: Equity Loan (2021-2023): Eligible homebuyers can borrow 5% to 20% (40% in London) of the market value of a newly built home. Regional property price limits will apply. The equity loan is interest free for 5 years; monthly interest payments start at 1.75% and rise each year in April by the Consumer Price Index (CPI) plus 2%. Pay a £1 monthly management fee from the start. Repay your equity loan at the end of your mortgage or equity loan term, when you sell your home or any time before. The lender, Homes England, secures the equity loan as a second charge on your home. Help to Buy is subject to eligibility, terms and conditions: www.helptobuy.gov.uk.
Available on selected properties, and subject to the Government’s specific terms, conditions and qualifying criteria.
Help to Buy cannot be used in conjunction with part exchange.
Availability of other incentives/offers subject to lenders criteria and Cala’s discretion.