When does the scheme end?
The Help to Buy scheme for first time buyers will run from 1st April 2021 until 31st March 2023. After this date, the Help to Buy scheme will close to new applications.
What are the regional price caps?
In an attempt to help first time buyers onto the property ladder, the Help to Buy scheme features regional price caps based on average starter home prices in the area. Each average price is multiplied by 1.5 to calculate the cap. Properties over each regional amount will not be eligible for the scheme.
Regional price caps for the Help to Buy scheme from April 2021:
- North East - £186,100
- North West - £224,400
- Yorkshire and The Humber - £228,100
- East Midlands - £261,900
- West Midlands - £255,600
- East of England - £407,400
- London - £600,000
- South East - £437,600
- South West - £349,000