London Help to Buy Scheme Details

London Help to Buy announced 25th November 2015

London Help to Buy with a 40% interest free loan to Londoners was announced today by Chancellor George Osborne. But as usual we do not have any detail. Will this scheme work in the same way as the current Help to Buy Scheme with interest payable after 5 years and a purchase price cap of £600,000?

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Will the London Help to Buy Scheme increase moving rates in the Capital and does the Chancellor expect to get a stamp duty land tax windfall as a result?

Certainly an interest free loan of up to 40% of your purchase price sounds a lot more beneficial than the current 20% limit, but will it be as simple as that. Will buyers considering 20% interest free loans on the current scheme now pull out and wait for a 40% interest free loan under London Help to Buy? Are there even enough properties being built within London to allow this scheme to be utilised by anything but a small handful of buyers? How will the rest of the UK feel about this perk for residents of the capital.

There is a lot of information that needs to be clarified. In the meantime, those with a 5% deposit available who are interested in mortgages for the London Help to Buy Scheme, or the standard Help to Buy scheme outside London, should call our team now.

Call us now for London Help to Buy Mortgages on 020 8979 9684

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