In For January
Stamp duty paid available on new reservations made on or before 25.01.19 only, that subsequently go on to legally complete. Offer on selected developments and plots only, subject to Avant Homes terms and conditions. Stamp duty contributions may vary depending on the property that is being purchased. Does not apply to second home owners or buy to let mortgages. Not to be used in conjunction with any other offer. Please ask Sales Advisor for full details.
LBTT paid available on new reservations made on or before 25.01.19 only, that subsequently go on to legally complete. Offer on selected developments and plots only, subject to Avant Homes terms and conditions. LBTT contributions may vary depending on the property that is being purchased. Does not apply to second home owners or buy to let mortgages. Only available on Avant Homes in Scotland. Not to be used in conjunction with any other offer. Please ask Sales Advisor for full details.
Terms and conditions apply to Express Move scheme, available on new reservations only. Deal is specific to some plots only, not available in conjunction with any other offer. Please speak to your sales adviser for individual plot specific deals as each deal varies. No cash alternative.
Help to Buy
What are the benefits?
Help to Buy is made up of two schemes – an ‘equity loan’ where the Government will loan you up to 20% of the value of your new build home and a ‘mortgage guarantee’ where lenders will be incentivised to make more mortgages available for people with small deposits. The Government wants to help more people across the country make the aspiration of home ownership a reality. Help to Buy is aimed at increasing
the supply of low-deposit mortgages as well as new housing and will run for 3 years. If you have a 5% deposit and want to buy a new build home, you’ll be able to access the Help to Buy scheme. If you want to buy a property which is either new build or an existing property,
How will Help to Buy work for you?
Help to Buy prices based on 80% of full purchase price. Eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. For the first five years, there is no fee charged on the equity loan component. At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be multiplied by RPI+1% p.a. The equity loan is provided by the HCA and held as a joint second charge. Terms and conditions apply and full details will be provided on request. This offer is only available on selected developments and properties in England up to £600,000. It is not offered with any other promotion. Applicants will need to use a Mortgage Broker from the panel, who will act solely for the applicant.
Help to Buy (Scotland)
Eligible applicants for Help to Buy Scotland will be offered an equity loan of up to a maximum of 15% of the purchase price (based on the open market value).
Applicants are required to fund at least 85% of the purchase price by means of a conventional mortgage, savings and any deposit where required. The Scottish Government will take an equity stake of up to 15% of the value of the property, which can be repaid at any time or on the sale of your home. Terms and conditions apply and full details will be provided on request. This offer is only available on selected developments and properties in Scotland up to £200,000. It is not offered with any other promotion. Applicants will need to use a Mortgage Broker from Avant Homes’ panel, who will act solely for the applicant.
Our part exchange scheme is highly popular and has taken the stress out of the home buying process for many of our customers over the years. Available on selected developments and on particular plots, the sales advisor based on each development will be able to highlight which plots qualify for the scheme.
For part exchange consideration, your current home must meet the following criteria:
- The value should be no more than £250,000
- If your property is ex-local authority, there must be evidence of resales in the area.
- It must be located within a reasonable distance of one of our existing developments around the Group.
- It must be in good order, requires no major maintenance or repair and is mortgageable.
All necessary planning and building consents for alterations or extensions must be available for inspection, including any required for the installation of replacement windows, even if the work was carried out by a previous owner.
If you reserve a plot that has a part exchange option and you decide to take advantage of part exchange, your sales advisor will ask you for information on your present home. This information will be passed to the Part Exchange Coordinator who will instruct independent valuations. These valuations are based on achieving a sale within 90 days. Our Part Exchange Coordinator will also contact you to introduce themselves and to advise you on the next steps of the process. Once the valuation reports are received from the estate agents we will look to make you an offer to purchase your home. Typically our offer is based on an average valuation price.
The offer will be be subject to the Coordinator visiting your property. We do reserve the right not to make an offer for any property put forward under the Part Exchange scheme.
Once an offer is accepted we will place your property on the market immediately. You will need to instruct your solicitor to deal with the legal documentation regarding your sale and purchase. At this point our Part Exchange Coordinator will arrange for a full mortgage survey to be undertaken against your existing home. In addition you will also need to arrange for the necessary finance, such as a mortgage, for the purchase of your new home. During the marketing of your existing property our appointed selling agent will contact our Part Exchange Coordinator to arrange viewing times for prospective buyers to view your home. We will endeavour to make these viewings as convenient to you as possible.
Once your finance is in place and contracts/missives exchanged you are simply waiting for your new home to be handed over to you. Once ready, we will then hand over the keys to your new home and you hand over the keys to your old home to us! It’s that simple.
Our part exchange offer is available against selected plots on selected developments. To find out more details how part exchange could work for you, please contact the sales advisor at any of our developments.
Offer available on selected developments and plots. We reserve the right to withdraw offers and incentives without prior notice. For further details, please ask the sales advisor on site.
Offer available on selected developments and plots only. We reserve the right to withdraw offers and incentives without prior notice. For further details, please ask the sales advisor on site.
Offer available on selected homes on selected developments only. Not available in conjunction with any other offer.
Home Reach is a new build ownership solution brought to you by Heylo Housing Group. The Home Reach shared ownership scheme cannot be used in conjunction with any other Avant Homes purchase scheme, offer or promotion. Subject to affordability criteria as prescribed by the Homes and Communities Agency. Subject to individual mortgage lender qualification and affordability criteria.
Shared Equity Scheme
The Shared Equity Plots are sold with the assistance of Saffron Housing Trust as follows:
1. Potential Buyers must be eligible and approved by the Local Authority before they can reserve the plot, in accordance with the conditions of the Section 106 Agreement.
2. Buyers will initially purchase 75% of the equity in the property and Saffron Housing Trust will retain the remaining 25% of the equity. For example, if the full purchase price is £100,000 the buyers will pay £75,000 on completion.
3. On completion the buyers will be granted a Shared Ownership Lease, where Saffron Housing Trust are the Landlord (owners of the freehold).
4. The Shared Ownership Lease secures the 75% equity acquired by the buyers, and is for a term of 99 years from the date of the Lease and with a fixed rent of £1 per annum throughout the term.
5. The buyers will be responsible to pay to the Landlord throughout the term of the Lease (a) a contribution towards insurance of the property and (b) any outgoings for the property e.g. bills, taxes, rates, service charge (if applicable) etc.
6. Five years from the date of the Lease the buyers can choose to staircase by acquiring further equity in the property. Buyers can acquire a minimum of 10% and a maximum of the remaining 25% equity. The value of the equity is based on the market value of the property at the time of staircasing. For example, if the buyers wanted to acquire a further 10% equity (making an 85% equity share overall) and the market value of the property at that time has increased to £110,000 then they would need to pay £11,000 to Saffron Housing Trust for that further 10% equity.
7. If and when the buyers acquire the full 100% equity in the property, Saffron Housing Trust will transfer the freehold of the property to the buyers and the Shared Ownership Lease falls away.
8. There is no obligation on the buyers to increase their share – they can remain with a 75% equity share throughout the 99 year term of the Lease if they want to.
9. If the buyers decided to sell the property at any point in the future, they would need to contact Saffron Housing Trust to ensure that any future buyers fulfil their criteria and the buyers would only ever be able to sell the percentage equity in the property that they have acquired to that point. For example, if the buyers own 75% equity they can only sell their 75% equity share based on the market value at that time.
10. If the property value increases or decreases over time, so does the value of the equity share.