Best Buys
New Build Homebuy is frequently referred to as Shared Ownership or part buy/part rent. New Build Homebuy is a scheme designed to help people who cannot afford to buy their property outright.
| Type | Initial Rate | Duration | Subsequent Rate | Overall Cost for Comparison | Early Repayment Charges | Incentives |
| Fixed Rate | 7.89% | 31/08/2011 | 5.94% | 6.8% APR | 4% of the outstanding mortgage within one year of completion, 3% in year two and 2% in year 3 | None |
| Fixed Rate | 6.79% | 31/01/2012 | 3.49% | 4.7% APR | 3% of the outstanding mortgage if repaid prior to 31/01/12 | None |
This is a summary of information and interest rates of some of the mortgages currently available to Censeo. These products are subject to other criteria that may or may not mean they are available to you or suitable depending on your individual circumstances. Other fees and charges apply. For a more accurate figure please contact Censeo for a personalised illustration. APR is calculated based on a £100k capital and interest mortgage over a term of 25 years, and figures are correct at the time of going to the Internet in December 2008. Information for this table has been taken from the Trigold Mortgage Sourcing system.
Whilst we have said that the number of lenders that offer New Build Home Buy is limited, the range of products is still varied. There are many other deals available than the ones we list in our best buys table and remember that you should not get confused with “best buy” and “most appropriate”. It is important that when your mortgage is selected the most suitable scheme is chosen, and opting of the right scheme is about matching your circumstances and plans to the best possible product. For example, if you plan to buy all of your property and increase your borrowing in the first few years then taking a longer term rate might not be appropriate, equally, should you wish to remain unchanged and review your financial position in the mid term then a longer term deal might make sense.
You can use the products listed here as a guide for calculating your approximate monthly costs. But should you wish for a more accurate quote, or, to see if you are eligible for the Genesishomes New Build Home Buy Scheme then complete our online form, or, contact us.
