Barratt – Help to Buy – Lockhart Gardens – Plot 37
Full Purchase Price - £229,995
15% Equity Share held by the Government - £34,999
Client Deposit 5% of Full Purchase Price - £11,500
Mortgage amount - £183,996
30 Year Repayment Term
Monthly Repayment - £651.92
Offer is available on selected plots when buying through the Help to Buy scheme through Barratt Homes. Subject to status. Terms & Conditions Apply.
Monthly costs based on a repayment mortgage of £183,996 over a 30 year term, with an initial rate fixed at 1.69% for the first 2 years. After the initial 2 year period, the rate will revert to the lenders variable rate for the remainder of the term – currently 5.44%. The annual percentage rate of credit (APRC) is 5.02%. The actual rate will depend upon your circumstances. Interest rate correct as at 20/11/16. The total amount payable over the term of the mortgage is £357,72.02. This is made up of 23 instalments at £651.92 followed by 337 instalments at £1,013.16 based on current Standard Variable Rate. An arrangement fee of £999 is payable on application, this can be added to the loan but will be subject to additional interest payments. Early repayment charges apply. Loans are subject to availability and subject to status. Other fees may apply. Ask for a personalised illustration.
The Government will retain a 15% share of the property value. This must be repaid on sale or transfer of your property.
Repayment of the 15% share is based on open market value at the point of sale or transfer, if the sale price is higher than the value, then the repayment is based on the sale price. If the value or sale price increased by 10%, then the repayment due to the Scottish Government would be £38,499
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.
Approved by First Mortgage Direct Ltd FCA Registration 305741