HomeBuy Direct

This scheme will end on the 30th June 2012

HomeBuy Direct is designed to help you buy a new property you may otherwise struggle to afford. You can receive a equity loan of up to 30%, which is funded partly by the government and partly by the developer. HomeBuy Direct homes are built by national house builders to high standards.

This means that if you are looking to buy a new build home you may only need a 70% mortgage, if you qualify. Some mortgage lenders only require a 5% deposit, depending on which lender you choose.

You pay nothing on the equity loans for the first five years. After five years both equity loans will be subject to a fee of 1.75% per annum on the outstanding amount of the equity loan. This fee will increase each year by RPI (Retail Price Index) plus 1%. We always recommend that you seek financial advice to determine how much your monthly payments will be at this point.

When you sell your property, or choose to repay some or all of the equity loans, the amount you have to pay back will be based on the market value of your property at that time.

There are many exciting HomeBuy Direct developments across Merseyside and Cheshire. If you are looking to buy a £100,000 home, you will potentially only need to obtain a £70,000 mortgage.

Click here to download the Buyer's Guide.

Go to property search to find properties available through HomeBuy Direct

Or see our Is it for me? section to check that you qualify.