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Schemes That Help to Buy in Halifax

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Schemes That Help to Buy in Halifax

You can no longer apply for the government’s Help to Buy scheme, However, you can still discuss with a mortgage advisor in Halifax your options for a government scheme that can make buying a home more affordable.

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How Mortgage Schemes in Halifax Can Help to Buy a Home

If you’re a first time buyer in Halifax who are in need of some help from a mortgage broker in Halifax then you’ve come to the right place. Sometimes obstacles can crop up along the way, these can include higher property prices, limited income, needing to put down a bigger deposit, struggles to match up with criteria and more.

The good aspect of using a mortgage scheme, is that they can potentially help to make home ownership more attainable and can help to reduce a lot of these problems. From schemes that help lower earners, to support from housing associations and councils, there’s no need to be worried as there could very much be options out there that can help you achieve your goals.

It is very important to understand that not every scheme will apply to every situation. Some schemes are more aimed at first time buyers in Halifax, with a view to help to buy their first home. Others are available to people moving home in Halifax as well.

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Schemes That Help to Buy in Halifax

Useful Mortgage Schemes That Help to Buy in Halifax

The most popular schemes available for home buyers are the Shared Ownership Scheme, which is available to first time buyers & home movers in Halifax, as well the Right to Buy & Right to Acquire Schemes, which helps local authority tenants to purchase their homes.

These are the types of schemes you may know by name, whilst others you may not be aware of. Some of these include the Lifetime ISA, first homes scheme and forces help to buy, to name just a few. They all have their own eligibility requirements and criteria to meet, for you to apply for them. Even if you do meet the requirements, it doesn’t necessarily mean it’s right for your situation either.

That is where a dedicated mortgage advisor in Halifax can come in. It is their job to look at your case and see what options you have available to you. In some cases, the route you thought was appropriate initially, may not be the best route for you to take overall.

By booking in your free mortgage appointment with a mortgage advisor in Halifax, you’ll find out about all the possible schemes or alternatives, that could help to buy in Halifax as a first time buyer or home mover.

What is a Help to Buy in Halifax?

Help to Buy was introduced in the 2010’s, off the back of the UK government’ previous FirstBuy Scheme. With a series of pre-existing and new schemes placed under that banner, it was designed to help first time buyers get onto the property ladder.

Over the years we have seen schemes under this banner disappear, whilst others have carried on without that branding. The most popular and well-known of these was the Help to Buy Equity Loan Scheme, which was closed to new applicants towards the end of 2022.

What this means is that first time buyers are no longer able to use a Help to Buy in Halifax or anywhere in the UK, though this doesn’t necessarily mean that support for home buyers has ended. There are still a variety of schemes that can help to buy in Halifax!

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Help to Buy FAQs in Halifax

How mortgage schemes can help me buy a home?

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It’s no secret that buying a home can be a bit of a challenge sometimes and a little daunting, especially if you’re a first time buyer in Halifax. The same can be said even if you’re moving home in Halifax too. As you could expect with such a large financial commitment, sometimes obstacles can crop up along the way.

These can include higher property prices, limited income, needing to put down a bigger deposit, struggles to match up with criteria and more. The good aspect of using a mortgage scheme, is that they can potentially help to make home ownership more attainable and can help to reduce a lot of these problems. From schemes that help lower earners, to support from housing associations and councils, there’s no need to be worried as there could very much be options out there that can help you achieve your goals.

It is very important to understand that not every scheme will apply to every situation. Some schemes are more aimed at first time buyers in Halifax, with a view to help to buy their first home. Others are available to people moving home in Halifax as well.

Each of these schemes will have their own strict criteria and eligibility requirements, which you’ll have to check before applying for a mortgage. Some of these require speaking to a local agent. Additionally, a mortgage advisor in Halifax may be able to help with this.

What useful home buying schemes are available in Halifax?

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The most popular schemes available for home buyers are the Shared Ownership Scheme, which is available to first time buyers & home movers in Halifax, as well the Right to Buy & Right to Acquire Schemes, which helps local authority tenants to purchase their homes.

These are the types of schemes you may know by name, whilst others you may not be aware of. Some of these include the Lifetime ISA, first homes scheme and forces help to buy, to name just a few. Again, these all have their own eligibility requirements and criteria to meet, for you to apply for them.

Even if you do meet the requirements, it doesn’t necessarily mean it’s right for your situation either. That is where a dedicated mortgage advisor in Halifax can come in. It is their job to look at your case and see what options you have available to you. In some cases, the route you thought was appropriate initially, may not be the best route for you to take overall.

By booking in your free mortgage appointment with a mortgage broker in Halifax, you’ll find out about all the possible schemes or alternatives, that could help to buy in Halifax as a first time buyer or home mover in need of expert mortgage advice in Halifax.

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Our Simple Step by Step Process

Free 30-Minute Mortgage Appointment

Step 1

Book your free mortgage appointment online and discuss your mortgage options with one of our mortgage advisors in Halifax.

We will talk you through the schemes and determine which one is the most suitable for you and your personal circumstances.

We Can Search 1000s of Mortgage Deals

Step 2

Your mortgage advisor in Halifax will search through 1000s of mortgage products on your behalf whilst you prepare your Help to Buy mortgage application.

Submit Your Help to Buy Application

Step 3

The subsequent phase involves preparing your mortgage application for submission to the lender. Throughout this journey, we'll keep you informed about the progress of your mortgage application, ensuring transparency and clarity.

Protecting You and Your Mortgage

Step 4

Our services go beyond merely securing the right mortgage for you. We also provide guidance on insurance options, aiming to safeguard both you and your loved ones.

Reasons to Choose Us

Free Mortgage Appointment

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We offer every customer a free mortgage appointment, where we will look over your options and answer your questions about the schemes.

We can also measure your overall mortgage affordability, looking at how much you can borrow based on your credit and current income.

Our Service

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In our role as a mortgage broker in Halifax, we assist individuals looking for diverse mortgage solutions, including those aligned with the Help to Buy Scheme.

Upon your initial contact with us, we will lead you through the entire process, offering extensive support every step of the way.

7 Days a Week

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We work 7 days a week to ensure flexibility in our service. You can book your free mortgage appointment for the morning, afternoon or during the evening - pick a time that best suits you!

We are also open at weekends and bank holidays so that you can reach us whenever you need help.

Malcolm and Amy Davidson - Mortgage Advice in Halifax

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Popular Government Schemes in Halifax

Shared Ownership

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Shared Ownership is a housing initiative allowing individuals to purchase a segment of a property while leasing the remaining share.

Typically, buyers opt for a share ranging from 25% to 75% and pay rent on the remaining portion. Over time, there is the flexibility to enhance ownership by acquiring additional shares through a process known as “staircasing,” ultimately progressing towards full property ownership.

Lifetime ISA

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The Lifetime ISA stands as a specialised individual savings account, crafted to facilitate savings for a first home purchase.

The government gifts a bonus of 25% on contributions every year, making your savings swiftly go up.

Savings per year are limited to £4,000; with the 25% bonus, you can save up to £5,000 a year for your first home.

Mortgage Guarantee

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The Mortgage Guarantee represents a government-backed initiative designed to assist individuals with smaller deposits in attaining homeownership.

Within this scheme, the government offers a guarantee to the mortgage lender, mitigating the lender’s risk and enhancing accessibility for buyers with modest deposits to secure a mortgage.

This initiative is geared towards supporting homebuyers encountering challenges in entering the property market due to lower deposit amounts.

Forces Help to Buy (FHTB)

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Forces Help to Buy stands as a dedicated scheme tailored specifically to assist armed forces personnel in acquiring a home.

This initiative offers interest-free loans to eligible military personnel, supporting them in securing a deposit for their initial home or facilitating a move to another property.

The repayment of the loan occurs over a predetermined period, with the overarching goal of improving accessibility to homeownership for members of the armed forces.

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Halifaxmoneyman.com & Halifaxmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

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