Frequently Asked Questions

Name: Strata
Address: Quay Point, Lakeside, Doncaster, DN4 5PL
Telephone: 01302 308508

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FAQs

Buying a new home is an exciting time, but it can also be quite overwhelming as there is a lot of information to take in. Here you'll find the answers to common questions that we are asked throughout the process. If you can't find the answer, get in touch and we'd be happy to help.

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FAQs

Do you have questions about financing your new home?

From how to get a mortgage to what is Help to buy, we've got the answers to the most commonly asked questions around finance when buying a new home.

Read our Finance FAQs

Do you want to know more about who we are and what we do?

At Strata we create homes that are designed with with you in mind. We do this as one family, from the customer service team to our builders creating your home. Find out more about what we do as Strata.

Read our Strata FAQs

Do you want to find out more about attending one of our events?

We pride ourselves on the events we host, anyone can attend and we have a full events calendar scheduled for the year! If you're interested in our events you can read some of our frequently asked events questions here.

Read our Events FAQs

FAQs

What is the Help to Buy scheme?

Help to Buy is a government-funded scheme that allows first time buyers to buy a new build home with 5% cash deposit and a 75% mortgage from a commercial lender. The remaining 20% is borrowed from the government and is interest free for the first five years.

Can I access an interest-only mortgage with Help to Buy?

No, you can only use the Help to Buy scheme with a repayment mortgage. Interest-only mortgages are not available to those using the Equity Loan.

Does Help to Buy apply to off-plan new build homes?

Yes, you can use Help to Buy when buying an off-plan new build home. Similar to other mortgages, the mortgage offer for a Help to Buy mortgage will usually last up to six months.

What is a deposit calculator?

Our deposit calculator can give you an idea of how much deposit you will need to save to buy your new home, as well as how much your mortgage repayments will be, based on various factors such as the term of your loan and its interest rate.

What is a mortgage in principle?

A mortgage in principle is when a lender will say that, if all your financial and personal information is accurate, they would be willing to lend you the money you need to buy a new home. A mortgage in principle can usually be drawn up in 24 hours and will generally last between three and six months. You will need to check with your lender exactly how long yours will be valid for.

Do I need a mortgage in principle?

Not every house purchase requires a mortgage in principle, but it can be reassuring to have one, especially if your new home might not be completed for several months. A formal mortgage offer might have expired by the time your home is ready.