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Precise Mortgages offers capital raising for Help to Buy

by Kevin Rose
21 October 2019
The Newcastle unveils new HTB deal
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Precise Mortgages has revised its Help to Buy proposition and is now offering homeowners the option to remortgage and capital raise to repay part of their original Help to Buy Equity Loan.

It said that with more than 220,000 properties purchased and nearly £12.5bn lent in equity loans since the launch of the Help to Buy Equity Loan Scheme in 2013, there are now a growing number of borrowers who are likely to need the support of a financial intermediary.

As interest becomes payable on the government equity loan after the initial five-year interest free period ends, and, in many cases, with borrowers seeing their initial mortgage rate come to an end,

The change is part of the lender’s wider Help to Buy proposition which now gives customers the option to purchase, choose a pound-for-pound remortgage, capital raise to repay part of the equity loan or fully repay their loan.

Precise believes that, as Help to Buy capital raising will be new to many intermediaries, it has produced a guide to remortgaging and capital raising for Help to Buy which can be downloaded from its website.

Alan Cleary, group managing director for Precise Mortgages, said: “The Help to Buy scheme has been a huge success since its launch in 2013, helping hundreds of thousands of aspiring homeowners take their first step onto the property ladder.

“Our new simple and straightforward capital raising option could help these customers by allowing them to remortgage and repay part of the Equity Loan which will become payable after the initial five-year interest free period ends.”

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© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

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  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

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