Homebuy Equity based loan
The Homebuy equity based loan is not available for any new applications but plenty of them still exist and require Market Valuations. It runs very similarly to the Governments Help to Buy Equity Loan.
After the first five years of no interest being paid on the amount the Government have contributed, interest becomes chargeable. The interest rate charged is 1.75% per year and this increases by inflation afterwards.
With mortgage interest rates at an almost historic low, you may be considering it worthwhile buying additional equity. This gives you a number of benefits including –
1) If you buy out the equity completely, you will be entitled to use the same mortgage products as the rest of the market. This can provide cost savings
2) The cost of buying additional equity can sometimes be lower than the cost of paying the interest rate that is otherwise charged
Before deciding to buy additional equity, whether part of what is owed or all of it, you should consult a financial advisor to make sure it is affordable.
Our Chartered Surveyors have provided numerous Market Valuation reports this and similar schemes. We are regulated by the Royal Institution of Chartered Surveyors and are RICS Registered Valuers. We pride our reports as amongst the most user friendly and most detailed in the Industry.
Once instructed to carry out a Valuation, we are normally able to provide our report within a week and can often, if necessary meet tighter deadlines where required. Larger portfolios may of course take longer but we will discuss implications with you at an early stage.
At Websters, we are Chartered Surveyors, regulated by the Royal Institution of Chartered Surveyors. Our services span most of London and some surrounding areas including Hertfordshire, Buckinghamshire, Essex and parts of Surrey and Sussex.