The Best Help Available for First Time Buyers in 2022
First time buyers have a number of different avenues that they can choose when buying their first home. With the uncertain economic climate and the recent rise in interest rates you would expect there to be little help available for first time buyers, but it’s not the case. We have selected the two best schemes available for first time house buyers who can choose to use both in combination to really get the most out of the schemes. A first time buyer can save for a deposit and earn 25% interest and then use that deposit to put towards the equity loan scheme where you will only need a 5% deposit.
- The Government Backed Equity Loan Scheme which is interest free for five years.
- Assistance with saving for the deposit with a LISA that earns 25% interest.