Generation buy

A phased end to the stamp duty holiday and a government guarantee for 95% mortgages will turn “generation rent” into “generation buy”, the chancellor claimed on Wednesday.

You could save £230 per month with a mortgage on apartment 102 at The Winerack instead of renting.

One Bedroom 554 sq. ft.
Purchase price £182,500
Deposit Required £9,125
(From personal sources or family gift also acceptable)
Monthly Mortgage Payment £445.49 pm
Rental valuation £675.00 pm
£0 Stamp Duty prior to Oct 1st 2021

*Subject to terms and associated costs.

(Based upon Santander 1.84% 5yr fixed rate, 35yr mortgage term – Subject to qualifying criteria – rates correct as of 03/03/2021 – Using Govt Help to Buy scheme 20%)

Monthly payments. This illustration is provided on Santander UK Plc (the lender)’s H2VE7 Help to Buy Fixed Rate
1.84% Until 02/06/2026 mortgage.

This would be a mortgage loan for a property purchase. Repayment Method: Capital repayment – Mortgage term total 35yrs. Subject to qualifying criteria – rates correct as of 03/03/2021 – Figures based upon using Govt Help to Buy scheme 20% https://www.helptobuy.gov.uk/equity-loan/equity-loans/ )

‘As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments’