Saved a 5% deposit? You could get a 15% interest-free boost with this new mortgage scheme.
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New Build Boost is a mortgage with an interest-free boost! Available only in England, with just a 5% deposit, Gen H could provide an additional 15% interest-free equity loan to help get you moving into your very own Persimmon home*.
Gen H’s New Build Boost fills the gap left by the ending of the Government-backed Help to Buy scheme, giving you access to an 80% LTV mortgage.
Say you want to buy a Persimmon home that costs £250,000, and you’ve saved a deposit of £12,500 (5%).
If New Build Boost is available on this home, Gen H could provide a standard mortgage* of up to 80% (£200,000). The remaining 15% will be made up by an interest-free boost (equity loan), also from Gen H.
As the 15% loan is interest-free for the lifetime of the loan, it will boost your affordability and potentially increase the amount that you can borrow from Gen H, helping you to buy your dream home.
The value of the boost is fixed for the first 5 years of your mortgage.
If you choose to keep the boost beyond the 5-year mark, the balance will jump up or down to reflect any change in your property’s value since you bought it. Then it’ll continue to go up or down as the property value changes over time.
Or, you can pay it back and switch to a standard mortgage product.
Take a look at developments in your chosen area to find out whether the scheme is available.
If it is, get in touch with our friendly sales advisors at that development by calling the contact number.
They’ll be able to arrange an appointment and determine whether you could use New Build Boost to get you moving.
Find out how Alex was able to start his next chapter with Persimmon thanks to New Build Boost by Gen H.
Gen H’s New Build Boost fills the gap left by the ending of the Government-backed Help to Buy scheme, giving you access to an 80% LTV mortgage.
Gen H is a mission-driven mortgage lender that understands the challenges of affordability that many aspiring homeowners face.
That’s why they created New Build Boost – to help purchasers buy a house they might not have been able to afford, sooner than they might have thought!
