Help to Buy
Helping buyers across England purchase a newly-built home with a 5% deposit.
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. There will be no fees on the 20% loan from the government for 5 years.
It is available for first-time buyers and exisiting homeowners for homes up to the value £600,000.
The equity loan needs to be repaid after 25 years. After the initial 5 years are over, a fee of 1.75% is payable on the equity loan, which rises annually by RPI inflation plus 1%.
Help to Buy: Equity Loan is available to homebuyers regardless of their annual personal income with mortgages available from a number of high street lenders.
Get In Touch
For further information about our current exciting developments or to discuss how you can make the most of the Help to Buy Scheme, please get in touch to talk more.
Help to Buy Terms and conditions
Pictures for illustrative purposes only.
Help to Buy is subject to the Homes and Communities Agency’s (HCA) terms and conditions and is available on new build homes up to £600,000 to customers where the property represents their only residence.
Not available on second, additional homes, buy-to-let or let-to-buy properties. HomeBuy agent eligibility check required.
The equity loan is interest free for the first five years and needs to be a minimum of 10% of the purchase price up to a maximum of 20%.
After five years, an annual fee of 1.75% of the outstanding equity loan is charged. This is increased annually by RPI plus 1%. The equity loan must be repaid after 25 years, or earlier if you sell your home.
A monthly management fee of £1 is payable by the equity loan borrower by direct debit, from the start of the loan until it is repaid. The management fee and interest fees are not capital repayments to the equity loan and do not reduce the amount owing.
Help to Buy operates under terms and conditions imposed by the HCA and may be subject to change. Please visit www.helptobuy.gov.uk for further information.