Experts will be on hand at an event in Lynn on Friday, February 13, to offer help and advice to people who are struggling to buy their own home.
A Help to Buy clinic is being held at Barclays bank’s High Street branch where people can learn more about options available through a government scheme.
The Help to Buy scheme was created for people who cannot afford to buy on the open market and offers a number of different products designed to make buying a home more affordable.
One of these is Shared Ownership, which gives people the chance to buy an initial share of the property that’s affordable, allowing home ownership in manageable stages.
The rent charged on the remaining share is subsidised, so that the combined monthly cost of mortgage and rent can be substantially less than buying the property outright.
Help to Buy can also help with the problem often faced by potential buyers of having to find the required deposit. Through the Help to Buy Equity Loan scheme, the government can lend up to 20 per cent of the cost of a new-build home, so that a five per cent cash deposit and 75 per cent mortgage make up the rest.
At the clinic, from 10am to 2pm, Help to Buy East and South East, which covers Norfolk, will be able to give information on legal processes and mortgages available under the scheme.