FirstBuy is a Government–backed scheme available to first time buyers on selected brand new Kier homes.
If you are a first time buyer, with an annual household income of less than £60,000 we may be able to help you buy a property worth up to £280,000!
If you are a first time buyer, with an annual household income of less than £60,000 we may be able to help you buy a property worth up to £280,000!
Here’s how it works…
With FirstBuy you only need 5% deposit saved up and we could help you securean equity loan for an additional 20% to put towards your deposit. We can then help you arrange a mortgage (via Independent Financial Advisors)for the 75% balance.
With FirstBuy you only need 5% deposit saved up and we could help you securean equity loan for an additional 20% to put towards your deposit. We can then help you arrange a mortgage (via Independent Financial Advisors)for the 75% balance.
You own 100% of your home with no interest to pay on your 20% equity loan for the first 5 years!*
The equity loan is split equally between Kier Homes and the HCA (Homes and Communities Agency), this loan is secured on the property and must be repaidwhen you sell your home.
A typical example based on a property worth £150,000
| Purchase price of your new home | £150,000 | 100% |
| FirstBuy buyer raises a minimum deposit of 5% | £7,500 | 5% |
| FirstBuy buyer arranges a mortgageat a maximum LTV of 75% | £112,500 | 75% |
| FirstBuy buyer total contribution | £120,000 | 80% |
| | | |
| Kier provides 10% equity loan | £15,000 | 10% |
| HCA provides 10% equity loan | £15,000 | 10% |
*After five years, an annual fee of 1.75% of the outstanding equity loan is charged. This is increased annually by RPI plus 1%.
**Please note that First Buy is only available on certain plots, please ask Sales Advisor for more details