Government Lift Scheme
Government Lift Scheme has now been opened to all first time buyers with Next Home Estate Agents; number one for property sales in Perthshire. Our specialised mortgage team is now in conjunction with The Government Lift Scheme and offering this to all first time buyers. Our independent mortgage advisor, Brian McCulley explains:
The Open Market Shared Equity Scheme (Otherwise known as Government ‘LIFT’ Scheme), aims to help first time buyers onto the property ladder with the minimum capital outlays. The Government Lift scheme has been a godsend to many of our clients over the past 4 years and we have just received the fantastic news that this scheme has now been made available to all first time buyers from next month. NO DEPOSIT REQUIRED!!!
How does it work?
First time buyers can literally purchase any property on the market with no deposit, the only outlays being the legal fees. The LIFT scheme would provide up to 40% deposit for their purchase. Here’s a couple of examples:
Couple looking to buy their first flat. They purchase a 2 bed flat for £100,000
LIFT Deposit – £40,000
Mortgage – £60,000
Typical Mortgage Payment – £260
With landlords charging rentals at over £500 per month you can see how this scheme is not only a fantastic way of getting onto the property ladder but also much cheaper than renting!
Family with 2 children. They would qualify to purchase up to a 4 bedroom house up to £180,000.
Purchase Price – £180,000
LIFT Deposit – £72,000
Mortgage – £60,000
Typical Mortgage Payment – £465
REMEMBER YOU CAN PURCHASE ANY PROPERTY CURRENTLY ON THE MARKET WITH NO DEPOSIT!!
As you can see this is indeed a wonderful and cost effective way of getting on the property ladder and we have our specialised Shared Equity Team ready to help you do just that.
THIS IS A FIRST COME FIRST SERVED BASIS AS THERE IS LIMITED FUNDING AVAILABLE – SO ACT NOW!
- Provide sound financial advice throughout the whole process
- Liaise with the LIFT scheme on your behalf
- Package and compelte your application
- Over 20 years experience in Mortgage Advice
- Access to preferential rates from High St Lenders
- A dedicated expert team on hand 7 days a week till 7pm
Don’t lose out – call us now on 01738 459069 and we will do the rest