Opening hours
Mon - Sat: 8am - 8pm
Sun: 10am - 5pm
57 High Street
Rayleigh, Essex, SS67EW
Phone numbers
01268 330 880
07738 165 602
Phone numbers 01268 330 880

Help to Buy

This is a Government backed scheme introduced in April 2013 designed to help first time buyers or home movers to purchase a property up to the value of £600,000. There are 2 Phases

Phase 1

The government will give you an equity loan of 20% of the property value and you would put in 5%. The 25% deposit means that you will have many lenders available and because of the deposit you will have a good range of interest rates available.

The government loan is interest-free for the first five years and borrowers will be charged a fee of 1.75% each year, this figure will rise in line with the Retail Prices Index each year after this.

Phase 2

The Government gave another option to lenders. They would guarantee the mortgage against negative equity. You can put a 5% deposit and there will be no Mortgages Indemnity Premium as the Government Guarantees the mortgage. Bringing in Phase 2 meant that lenders are more secure and so made 95% mortgages more favourable.

Contact Our Mortgage Advisers Today

Contact Russell Financial Solutions in Rayleigh today to receive our expert guidance and mortgage advice. Our specialist mortgage brokers are on hand to make finding the right mortgage for you efficient, quick, and stress-free.

Get in touch

Latest news

  • Why we love equity release

    “We approached Darren in order to discuss an equity release mortgage. We own a property but really wanted to see if it was possible to purchase a new property…
  • Kerry Slater
    Very happy with the service we have received! Very quick replies to emails and proactive in helping with the whole process. Not just the mortgage service included but also life and home insurance services too! Many thanks to Jack Johnson and Glen for their help specifically, will continue to use them both in the future :)
  • Hayley Thirkettle
    From day 1 glen and his team showed commitment and such a professional standard. He made sure all my questions and concerns were dealt with promptly. He made getting my first mortgage / property a breeze... highly recommend.
  • Joanna Kurn
    Fantastic service. Found the best deal for our remortgage in very quick time. All went through with no problems. Helped with all the documents we needed and informed us when we had completed on the mortgage. Would highly recommend.
  • Paul Addison
    Brilliant Service, from the initial phone call with Glen, to emails with Maxine it was very easy and painless. Got a great new deal , completed bang on time, and cannot find any fault at all. Would highly recommend, and will back when this deal is due to expire!!
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