Halifax supports a range of government backed initiatives to help people buy a home. So whether you're a first time buyer or moving home, there could be a scheme that's right for you.
You could lose your home if you don’t keep up your mortgage repayments
Help to Buy: equity loan scheme.
Halifax is supporting the first part of the Government's Help to Buy scheme (Equity Loan) which launched on 1st April 2013. The scheme aims to help both first time buyers and home movers who have deposits of at least 5% to buy a new build home through offering a shared equity scheme.
In England and Wales the Government lends up to 40% of the value of the property in Greater London, or up to 20% of the value of the property outside of Greater London. In Scotland the Government lends up to 15% of the value of the property.
Help to Buy: ISA Scheme.
The Help to Buy: ISA is closed for new applications.
If you already have a Help to Buy: ISA you can still save and claim the Government 25% bonus (minimum £400 and maximum £3,000).
You can also still transfer your Help to Buy: ISA to us from another bank or building society.
Halifax is supporting the Governments MoD Forces Help to Buy scheme, which allows forces personnel to borrow up to £25,000 interest free (repaid over 10 years) to use as a deposit when buying a property to be used as their main home.
To find out more, advice is available to forces personnel through their Chain of Command and personnel agency. Information is also available on the Government website.
You can apply for a mortgage through Halifax branches or over the telephone; remember to tell the mortgage adviser the deposit is being provided through the Forces Help to Buy scheme.
Right to Buy.
Halifax is supporting the Government's Right to Buy scheme, which assists people who are renting their home from a Local Authority (or the Local Authority's nominated housing provider e.g. Housing Association) to buy the property at a discounted price. Depending on the level of discount offered, buyers may not need a personal deposit.
To find out more, contact your local authority they will be able to advise if you qualify, confirm the level of discount that may apply and give you details of other scheme rules. More information is available on the Government website.
You can apply for a Right to Buy mortgage through Halifax branches or over the telephone.