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First Help to Buy property purchase completes

Aaron Strutt Image

The first house purchase through the government's Help to Buy mortgage scheme has completed.

According to a report in the Financial Times, a first-time buyer bought a two-bedroom flat in Dartford, Kent, for £153,500. The borrower purchased her property with a 5.5% deposit through Halifax, part of Lloyds Banking Group.

Providing homebuyers have a sufficient income, it is possible to purchase a property up to the value of £600,000. Trinity has access to Halifax's 5% deposit Help to Buy mortgage and it is fixed for two-years at 5.19%. It has a £995 arrangement fee.

Initially, the government announced that borrowers would not be able to complete on a Help to Buy mortgage before the start of the new year.

November 8, 2013

As seen in
sunday times telegraph financial times bbc news the express the times
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