Home Mortgage CalculatorMortgage calculator for your home
Help to Buy Equity schema is developed to help purchasers who come into the real estate or want to get up the stairs and buy a larger house. Assuming you have a minimum 5% down payment, the government will borrow up to 20% of the value of the real estate while you need a mortgage for the other 75%.
Assistance to buy an equity financing is only available for new buildings up to a maximum of £600,000. No interest is paid for the first five years, but thereafter you will be billed a 1.75% charge on the value of the credit. Next is to use the moving rate chart to input the value of the real estate; this indicates how much the government can award on your investment and is computed on the assumption that the government will provide a 20% mortgage on the overall sale value.
This calculator also shows the amount of the mortgage you need, calculated on 75% of the sale value of the real estate, and this is the mortgage amount you need. After calculating your max sales on the basis of your down payment, you can now find out what your average recurring payments would be.
In order to compute this number, you must choose the interest and term of the mortgage. They can do this through staggering, but it is important to keep in mind that both will influence your refunds. You should consult an independant mortgage broker/advisor who is authorized to give finance advisory services on the basis of your particular situation.
For more information, please see the Buying an Equity Loan Help page. You can repossess your home if you do not maintain your mortgage payments.