Re: help to buy scheme
I've just bought a new build flat with this scheme, it works out really well for me.
Government have lent us 20% of the flat (£48,400), which is interest free for 5 years. When you add in the deposit, it means that the mortgage you have to take out is considerably less, therefore paying less every month. After 5 years, I'll start having to pay interest on the government loan, so with the percentage you've quoted above (1.75%), £847 per year (on top of my mortgage).