FIRST STEPS

FIRST STEPS is a new Government equity loan scheme which was announced in the March 2011 Budget to help first time buyers get onto the property ladder within Greater London.

How does it work?

You buy your home with 5% deposit and a mortgage from a lender for 75%, and if you are eligible you can get an equity loan of up to 20% of the price of your new Bellway Home. This is a shared equity loan which is provided by the Government and Bellway Homes.

An example of how it works:

For the first five years the equity loan is interest free.  After five years, an annual fee of 1.75% of the outstanding equity loan is charged.  This is increased annually by RPI plus 1%.

Who is eligible for FIRST STEPS?

You could be eligible if you are looking for a home in the Greater London area and:

• You are a first time buyer
• Your household income is £60,000 or less

Please speak to a Sales Advisor for full details of the scheme.

TERMS AND CONDITIONS

Any promoted Bellway Homes offer is subject to contract, status, selected plots only, subject to availability and cannot be used in conjunction with any other Bellway Homes offer.

All offers must be used in conjunction with the recommended mortgage broker who will provide independent advice.  Full details on request.

Prices and details are correct at time of going to press.

Images are typical of Bellway Homes.