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Mortgage Broker in Buckshaw Village, Lancashire
Family-run mortgage and equity release advisers based in Chorley, right on your doorstep. Independent, whole-of-market advice for buyers and homeowners in Buckshaw Village and across Lancashire.
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Buckshaw Village is one of Lancashire's most distinctive modern developments, built on the former Royal Ordnance Factory site just south of Chorley town centre. Construction has been ongoing since the mid-2000s, with the majority of homes completed during the 2010s. Because so much of the development was built and sold during the Help to Buy era - between 2013 and 2022 - Buckshaw has one of the highest concentrations of Help to Buy equity loan properties anywhere in the North West.
The government equity loan was interest-free for the first five years after purchase. From year six onwards, interest charges start at 1.75% of the loan value and increase every year above inflation. For many Buckshaw homeowners, those charges have already kicked in - and they will continue to rise. The most straightforward way to clear the loan is through a remortgage: borrowing additional funds against your property to repay the equity loan in full.
This is an area where Aspect Mortgages can help. We know the lenders who will accept Help to Buy remortgage cases, the valuation process involved, and the steps needed to work with Homes England to complete the repayment. And because our Chorley office is a short drive from Buckshaw Village, we can meet you in person if you would prefer face-to-face advice.
If you used the government Help to Buy equity loan to purchase your Buckshaw Village home, you may now be in a position where repaying that loan makes financial sense. The government equity loan was interest-free for the first five years, but charges apply from year six onwards. Many Buckshaw homeowners are now reaching that point and looking to repay the loan through a remortgage. This is a specialist process and requires lenders who understand how Help to Buy valuations and repayment work. Our step-by-step guide to buying out your Help to Buy equity loan explains exactly what is involved.
A remortgage to repay your Help to Buy loan involves borrowing a larger amount against your property to clear the equity loan with Homes England. The amount you owe is not fixed at your original loan - it is calculated as a percentage of your property's current market value. So if you borrowed 20% of the purchase price, you will repay 20% of whatever your home is worth at the time of repayment. Given that many Buckshaw properties have risen in value since they were built, it is worth understanding the full picture before making a decision..
Help to Buy Rate Switch
Not every Buckshaw homeowner is in a position to repay their Help to Buy equity loan right now — and that is completely fine. If your fixed rate is coming to an end but the timing or the numbers do not yet stack up for a full buyout, a rate switch with your existing lender is a sensible way to protect yourself from a sharp jump in monthly payments in the meantime. A rate switch — sometimes called a product transfer — means moving to a new fixed rate deal with your current lender, without changing the size of your mortgage or triggering a full remortgage. It keeps your options open and avoids the standard variable rate, which is almost always the most expensive rate your lender offers. At Aspect Mortgages, we handle rate switches completely free of charge. There is no advice fee, and we compare the deals available through your lender to make sure you are taking the right one. Not sure whether to fix or go variable? Our guide to fixed vs tracker mortgages can help you decide. When the time comes to revisit your Help to Buy repayment, we will already know your situation and can pick up exactly where we left off.
Buckshaw Village remains one of the more accessible entry points for first time buyers in the Chorley area, with a range of property types and a strong community feel. While the Help to Buy equity loan scheme has now closed to new applicants, other support options may be available depending on your circumstances. We guide first time buyers through every stage, from your initial affordability check through to collecting your keys.
Whether you are upsizing within Buckshaw, moving to another part of Chorley or Lancashire, or relocating to the area, we review your existing mortgage position and search the whole market for the best available deal. If your current mortgage includes a Help to Buy equity loan, we can advise on the most efficient way to handle repayment as part of the move.
Not on Help to Buy, or already paid it off? If your fixed rate is coming to an end, you are sitting on your lender's standard variable rate, or you want to raise funds for home improvements or other purposes, we search the whole market to find the right deal for your circumstances. Buckshaw Village properties are well regarded by lenders, and many homeowners have built up meaningful equity over the past decade - which can open up better loan-to-value tiers and lower rates.
Buckshaw Village has strong appeal for buy to let investors. The development's size, modern housing stock, and proximity to Chorley town centre and the M61 generate consistent rental demand from commuters, young professionals, and families. We provide whole-of-market buy to let advice for both new and experienced landlords.
While Buckshaw Village is a relatively young development, some homeowners who purchased during the early phases have now been in their properties for fifteen years or more - and in some cases have built up substantial equity, particularly if they have already cleared or partially repaid a Help to Buy loan. If you are aged 55 or over and are considering accessing some of that value, equity release may be worth exploring.
As a proud member of the Equity Release Council, Aspect Mortgages adheres to the highest standards of later life lending. Every lifetime mortgage we recommend includes the no negative equity guarantee and the right to remain in your home for life.
A loan secured against your home that does not need to be repaid until the property is sold - usually when you pass away or move into long term care. You keep full ownership of your home and the right to remain in it for life, with the no negative equity guarantee ensuring you will never owe more than your home is worth.
A mortgage where you pay the interest each month and the loan is repaid when the property is eventually sold. This can suit homeowners who want to release equity while keeping their monthly outgoings manageable in retirement.
If your current mortgage is coming to an end and you are approaching or in retirement, we can review your options and search the market for the most suitable product - whether that is a standard remortgage, a retirement interest only mortgage, or a lifetime mortgage.
Already have an equity release plan in place? We can assess your existing arrangement and advise whether switching, updating, or retaining your current plan is the right course of action for your circumstances.
Why Choose Aspect Mortgages?
Independent and FCA regulated. We work for you, not for the lender
Whole of market access across 90+ lenders and leading insurers
Family run since 2004 with over 100 years of combined team experience
Local office, national reach. Serving clients across Lancashire, Greater Manchester and nationwide.
Real people, no jargon. Plain English, at your pace
Rated 5 stars across 460+ Google reviews. One of the most reviewed brokers in the North West
Fixed, transparent fee. One flat fee, no surprises.
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Call us on 01257 812345, or drop us a message and we'll call you back
Areas We Cover
Preston, Chorley, Leyland, Bamber Bridge, Southport, Skelmersdale, Ormskirk, Wigan, Buckshaw Village, Worsley, Sale, Prestwich, Cheadle, Marple and Bolton. Remote advice offered nationwide.
There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £495 for a residential/buy to let mortgage or £1495 for an equity release/retirement mortgage.
Aspect Mortgages Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under FCA reference 305352. The FCA do not regulate Business Buy to Let Mortgages.
As independent advisers we have access to the whole market, except for deals that you can only obtain by going direct to a lender. Registered in England and Wales No: 051013801. 16 St Thomas' Road, Chorley, PR7 1HR.
A Lifetime Mortgage may reduce the value of your estate and could affect your entitlement to benefits. To understand the features and risks please ask us for a personalised illustration.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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