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Help to Buy

The current Help to Buy schemes will be available until March 2021.

Help to Buy England

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

Equity loans are available to first time buyers as well as homeowners looking to move. The home you want to buy must be newly built with a price tag of up to £600,000.

You won’t be able to sublet this home or enter a part exchange deal on your old home. You must not own any other property at the time you buy your new home with a Help to Buy: Equity Loan.

Help to Buy Logo

See below example on a £300,000 home:
5% deposit£15,000
20% Help to Buy Equity Loan£60,000
75% mortgage£225,000

Help to Buy London

With a Help to Buy London: Equity Loan the Government lends you up to 40% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 55% mortgage to make up the rest.

You won’t be charged loan fees on the 40% loan for the first five years of owning your home.

Equity loans are available to first time buyers as well as homeowners looking to move. The home you want to buy must be newly built with a price tag of up to £600,000. It is available on new homes in the 32 London Boroughs & City of London.

You won’t be able to sublet this home or enter a part exchange deal on your old home. You must not own any other property at the time you buy your new home with a Help to Buy: Equity Loan.

See our example below on a £500,000 home:
5% deposit£25,000
40% Help to Buy Equity Loan£200,000
55% mortgage£275,000

Help to Buy Wales

Help to Buy – Wales provides a shared equity loan to buyers of new-build homes. The scheme supports the purchase of homes up to £300,000 bought through a registered Help to Buy – Wales builder. Here’s how it works:

With Help to Buy – Wales: You must provide a 5% deposit. The scheme provides a shared equity loan of up to 20% of the purchase price. You must take out a repayment mortgage to cover the remaining amount.

To be eligible for the Help to Buy Wales scheme, you must:

  • Be buying an eligible home, with a maximum price of £300,000 from a builder who is registered with the scheme.
  • Be able to fund at least 80% of the property price through a combination of a repayment mortgage and a minimum deposit of 5% of the purchase price.
  • Take out a first charge repayment mortgage with a qualifying lender.
  • Not sub-let any part of the house you are buying through the scheme.
  • Not be renting your existing home and buying a 2nd home through the scheme

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