Help and Reward*
Help and Reward lets you help pay towards a family member’s deposit for an Orbit home.
This may be of help...
If you have a family member who can help you pay the deposit you need for that step onto the property ladder, then Help and Reward will repay their generosity by paying the equivalent of 5% interest on the deposit you have been gifted.
So now you can purchase your new Orbit home even if you don't have a deposit.
It is Orbit's way of rewarding parents or family prepared to fund a deposit for you as a first time buyer.
By gifting a deposit of up to a maximum of 20% for a new Orbit home, they earn equivalent of interest on that money at 5% for five years, a return that's unlikely to be beaten by the banks.
Is the scheme open only to the parents or family of the purchasers?
No, friends of family are also eligible (subject to lender)
Can more than one family member help with my deposit?
Yes, both sets of parents could contribute towards the 20% deposit: however, the payment of the equivalent amount to the interest will only be paid to one nominated individual.
When can my family member expect to receive their payment?
There is no need to wait the five years as payment will be made upon completion of the new Orbit home.
What is the maximum that can be gifted as a deposit?
The maximum is 20% of the purchase price however, some lenders accept your deposit with savings of your own. You can speak to one of our recommended Independent Mortgage Advisors who will be able to offer you a range of mortgages available.
Is Help & Reward available on all Orbit properties?
Help and Reward is available on selected Orbit properties and developments. Please ask our Sales Consultant for more details.
Terms and Conditions
*This scheme is available on selected Orbit properties and developments it is subject to status and terms and conditions. It is not available in conjunction with any other offer or promotion. Payment is equivalent to 5% simple interest over a 5 year period and is payable, upon legal completion to the family member or friend on funds paid towards the deposit by the family member or friend up to a maximum of 20% of the purchase price. Orbit cannot give you any financial advice but can refer you to an Independent Financial Advisor. A fee of £500 is payable on reservation of the Orbit property but is credited on legal completion. Cancellation of your reservation may result in losing part or all of your reservation fee. This scheme is not available on shared ownership purchases. Subject to scheme specific units and home types and may not be available on a property you select, ask our sales staff for availability and terms & conditions that may apply.