Help to buy scheme

Help to buy scheme

The Government’s Help to Buy scheme is changing from March 2021. To take advantage of the current scheme which is explained here, you need to reserve your home by 15th December 2020.

You’ll need your own 5% Deposit

Get a 20% equity loan from the government*

Buy the home you need now with a 75% mortgage

Available to first and next time buyers

What’s involved?

Choose from our range of stunning new homes available under the scheme, up to a maximum purchase price of £600,000.

Our independent mortgage advisors can then take you through the prequalification process. Subject to approval, the government will agree to lend you up to 20% of the purchase price through an equity loan.

You’ll need a 5% deposit to secure a conventional mortgage for up to 75% of the purchase price.


Who is eligible for Help to Buy?

The Help to Buy Equity Loan scheme is available to both first time buyers and existing home owners. You will need a minimum 5% deposit to qualify. There is no maximum household income to qualify for the scheme, and you can purchase a property with a maximum value of £600,000 in England. The Help to Buy Equity Loan scheme is exclusive to new-build homes only.

How does Help to Buy Equity Loan work?

With Help to Buy Equity Loan, you only need a minimum deposit of 5% of the value of your new home. The government lends you an equity loan of up to 20% of the value of your home, so you’ll only need a 75% mortgage. You will not be charged any loan fees on the equity loan for the first five years of you owning your home.

Can I pay off the equity loan before the end of the first 5 years?

Yes. Once you have purchased your home, you can choose at any time to make voluntary part repayments or a full repayment, based on the market value at that time. The minimum voluntary repayment is 10% of the market value at that time.

Is Help to Buy a shared ownership scheme?

No. With the Help to Buy Equity Loan, you purchase 100% of your home and legally own 100% of your home.

How long will the Help to Buy scheme run for?

The popular Help to Buy Equity Loan scheme has been extended until 2021 through a further £8.6billion in government funding.

Register your interest

So now it’s even easier to buy one of our brand new homes with the Help to Buy scheme, and the best thing is right now…anyone can qualify! To make an enquiry, or for more information, simply click the Register Interest button below.