Rezide: you could buy with a 15% equity loan

Rezide is a new scheme designed to help you buy a brand-new home with just a 5% deposit and a 15% equity loan. This means you only need a mortgage for 80% of the property price.

The scheme is available to both first-time buyers and existing homeowners on selected new homes in England and Wales, up to a value of £660,000.

The 15% equity loan has a fixed interest rate of 4% for the entire term, giving you certainty over your monthly repayments.*

• With Rezide you own 100% of your home
• You only need a 5% deposit, so you could move sooner
• The 15% equity loan could increase your homebuying budget (by up to a maximum of £100,000)
• This means you only need an 80% mortgage which means you could access more favourable interest rates
• You can repay part or all of the equity loan at any time without early repayment charges
• It is available to both first-time buyers and existing homeowners

To be eligible for the scheme you must meet the following criteria:

• You must be a UK resident and the main buyer needs to be at least 21 at the start of the loan, and no older than 75 at the end of the loan term
• The home you purchase with the scheme must be your residential home, it cannot be used for buy-to-let, as a holiday home or for any commercial purposes
• The scheme is available on new homes in England and Wales only
• You must contribute a minimum 5% of the property value as a deposit, and pass the lending criteria* 
• You must be able to secure a mortgage from a qualifying lender for a maximum of 80% of the purchase price