Who has equity in my home?
If you buy with New Build Boost, nobody will hold equity in your home but you.
New Build Boost is not like Shared Ownership and there will only be one charge over the property, ours, like with a normal mortgage.
If you buy with New Build Boost, you'll own the property outright and will build equity with each monthly payment and when you repay the interest-free boost.
The boost is an interest-free equity loan that is frozen for first 5 years. (You can read our scheme explainer for more detail.)
But this equity loan doesn't mean that anyone else has equity in your home.
If you buy with New Build Boost, you'll own the property outright and will build equity with each monthly payment and when you repay the interest-free boost.
The boost is an interest-free equity loan that is frozen for first 5 years. (You can read our scheme explainer for more detail.)
But this equity loan doesn't mean that anyone else has equity in your home.