Adrian Moloney – OneSavings Bank Group Sales Director
I think it’s fair to say that the government’s Help to Buy Equity Loan scheme has been a success since its launch back in 2013.
According to the latest figures1, more than 272,000 new build homes worth around £73 billion have been purchased over the past seven years thanks to the five-year interest-free loan of 20% of the value of a property, or 40% for those purchasing in Central London.
However, if you’re one of those customers who took advantage of the scheme in 2014 or 2015 and haven’t paid off the equity loan, you may now be wondering about what to do once your interest-free period comes to an end and you have to start paying interest payments on top of your monthly mortgage payment.
Fortunately, Precise Mortgages may be able to help. As one of the UK’s leading specialist lenders, we’re always thinking of ways to help borrowers. Our new range of Help to Buy remortgage products could be ideal for customers looking to make the transition to becoming established homeowners.
Our new range gives your customer choice:
Our range features two or five year fixed products, with rates starting from just 4.24%. There’s no product fee, a refund of the valuation fee and we’ll consider customers with less than perfect credit histories. And for those customers looking for more traditional remortgage options, our standard residential range could also help if your customer is looking to repay their equity loan in full. We’ve really got all bases covered.
Our latest offering is backed up by a priority processing service which is dedicated to assessing cases within 48 hours and making offers within 21 days, as well as providing support and regular progress updates.
To find out more, click here to read our Help to Buy Remortgages product guide.
To make submitting your case as easy as possible, our Residential Mortgages Affordability Calculator allows you to calculate the interest payment on your customer’s Help to Buy Equity Loan.
And don’t forget, if you’ve got any further questions, a member of our Sales Team is always happy to help or you can call our dedicated support service on 0800 116 4385.
We’ll keep on working hard to ensure we continue to offer a range of products and criteria designed to help even more of your customers. Just as we were here for you yesterday, we’re here for you today and we’ll be here for you tomorrow, through the good times and the bad.