Help to Buy: Equity Loan scheme now open
As you are aware, the second Help to Buy scheme opened for applications yesterday – 16 December.
Applications for the former Help to Buy: Equity Loan scheme (2013-2021) closed on the 15th of December but your clients still have until 31 March 2021 to legally complete their purchase and get their hands on the keys to their dream home providing they have an existing ATP and meet all other requirements of the scheme. The good news is, we’ll still allow mortgage applications on this scheme until the 31st of December.
We also have the new Help to Buy: Equity Loan scheme (2021-2023) live on our Bluelink portal and we’re accepting applications with buyers able to move into properties on this scheme from 1 April 2021. Bluestone Mortgages will be following Homes England’s guideline on who is eligible for the new scheme. Please read the homebuyers’ guide for more information.
- Bluestone would not be able to re-offer any existing HTB offers onto the new scheme, this would need to be a new application supported by a new ATP.
- Please be aware that the maximum purchase price has been amended on the new scheme – refer to: https://www.helptobuy.gov.uk/
equity-loan/equity-loans/ to confirm your clients maximum property price.
If you have any questions you can take a look at our latest product guide