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Help to Buy

If using this scheme the Government will provide a 20% loan to the buyer.  A buyer will only be required to provide a 5% deposit upon exchange of contracts.  The Help to Buy charge will be registered as a second charge against the property and the buyer will be required to re-pay this just like a normal mortgage.

What we do at ORJ:

  • Firstly we will receive the Authority to Proceed from Help to Buy this enables the Developer’s solicitor to issue contract papers to us.
  •  The Help to Buy Mortgage report is prepared for the Client  and the Client will sign and return their Equity Charge to us.
  • On receipt of the Mortgage Offer, a Solicitor Form 1 is submitted to Help to Buy with: a copy of the executed Equity Charge, Mortgage Offer and Valuation.
  •  Then we receive Authority to Exchange from Help to Buy, this will enable us to exchange contracts.
  • Once Exchanged, we send Confirmation to Help to Buy that the matter has exchanged.
  • A Solicitor Form 2 is submitted when a completion date has been agreed or when notice to complete has been served.
  • On completion, the signed Equity Charge and AP1 is sent to Orbit.
  • Once Registration formalities have been completed at HM Land Registry the completed Title Information Documentation is sent to Orbit.
  • We will then await discharge from our Undertakings.