If you're looking to buy one of our homes in Old Smokehouse, you can borrow up to 40% of the purchase price from the government with as little as a 5% deposit saved, so owning your dream home can be easier than you might have thought.
How it works
- Only available on new build properties.
- The purchase price must be no more than £600,000 within Greater London, or £400,000 in the rest of England.
- Up to a 40% loan from the government will cover some of the price of the property.
- 55% loan to cover the rest of the purchase price would need to be gained from a bank or building society.
- There are no fees on the government loan for the first 5 years you own the home.
- You must pay back the loan after 25 years or when you sell your home - whichever comes first.
- You can pay back part or all of your loan at any time.