Help to Buy

The Help to Buy Equity Loan is a government backed scheme designed to help you buy a new build home up to the value of £600,000. 

How does it work?

Help to Buy allows you to own 100% of your home and only pay 80% up front. You will need to provide a 5% deposit and the government will then lend you up to 20% as an equity loan. You would then need to apply for a mortgage based upon the remaining 75% 

The table below gives an example of using Help to Buy to buy a £190,000 home.

Cash Deposit  5%  £9,500
Equity Loan  20%  £38,000
Mortgage  75%  £142,500

Our Help to Buy affordability calculator can give you an example of the type of home you may be able to afford. 

Affordability Calculator

Am I eligible?

The myth that surrounds the Help to Buy scheme is that it is only for first time buyers and it is safe to say that this is definitely not the case. The scheme is for any buyer who is looking to purchase a new build home. Whether you’re looking to get on to the property ladder or move up it, Help to Buy could help.

You must be able to -
  • Have access to a minimum 5% deposit
  • Fund up to 75% of your chosen home through a conventional mortgage
  • Have no other residence or properties in your name before your homes completion date
  • Not rent out your existing home and buy a second home through Help to Buy

Help to Buy is changing...

The government has announced that changes will be made to the Help to Buy scheme; with new limitations and rules. The new scheme will be exclusively for first time buyers, defined as those who have not previously owned or purchased property. The changes will come into place on 1st April 2021 and may affect you if you were thinking of applying for the scheme.

Find out more about changes