The equity loan is provided by Homes England (opens in a new window) – a public authority funded by the Ministry of Housing, Municipalities and Local Authorities. Homes England was launched on January 11, 2018 by the Secretary of State. Homes England is the trade name of the Homes and Communities Agency. All Buying Aid: Equity loans have homes and communities Agency as a lender. Following the availability of the equity loan, Homes England is entitled to a share of the proceeds from the future sale of your property corresponding to the percentage of contribution borrowed. We may ask you to pay a small administrative fee to cover our costs: The briefing notice explains the requirements of the National House Building Council (NHBC) at Homes England or equivalent guarantees/guarantees for each house sold under Help to Buy (equity loan). A rental agreement is a private contract between you and your landlord or holder. It establishes the rights and obligations of both parties. The government believes that a new leased building property should only be sold in exceptional cases. Since June 2019, Help to Buy: Equity Loan is not available for the purchase of leased homes sold. It is true that the purchase of apartments sold on a rental basis remains possible. We strongly advise you to advise yourself independently of legal advice to inform you about the terms of a rental agreement related to a real estate purchase and all associated costs.
Homes England cannot offer legal advice. In certain circumstances only. If you increase your mortgage because you want to partially or fully repay your equity loan, this is generally approved. Increases for other reasons are taken into account on a case-by-case basis by the Help to Buy: Equity Loan Administrator (opened in a new window). This is to protect our interest in the property. It`s also that we can consider how changes can affect the value of your home when you set up your credit. A warning message has been added to home builders regarding possible changes to the financing management agreement We will charge you for providing these services. The prospectus sheet for administrative expenses (pdf, 353KB) contains additional information. You can only take out a equity loan from a purchasing assistance agent who has been asked by Homes England to provide the program. We are the help to buy agent that covers the sale of real estate under the program in the north of England.