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You can now buy a house of your own virtually little or no cash outlay using. Peterborough Property and Mortgage Bureau will put you in touch with an organisation who provides a House Purchase Deposit Scheme.

House Purchase Deposit Scheme:

  • Your mortgage lender will provide a loan, depending on your status, of 85/90 or 95% of the value of the property you’re looking to buy, the House Purchase Deposit Scheme will provide an interest free top-up loan which can be used as your deposit.

  • So, for instance, if the purchase price is £100,000 and your mortgage provider say offers a loan of £90,000 (90%) you could have a top-up loan for £10,000 making up a purchase price of £100,000.

  • You need only repay the House Purchase Deposit Scheme loan when you decide to sell and move or re-mortgage in a few years time.

There are no monthly repayments or instalments to worry about and since the loan is only repaid when you decide to sell and move or re-mortgage it is an ideal way to get a foot on the property ladder sooner rather than later.

If you would like more information please contact us

   
 

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