Help to Buy

The Help to Buy equity loan is a scheme that allows you to own 100% of your home and only pay 80% of the price upfront. You only have to provide a 5% deposit and then government will lend you the remaining 20% as an equity loan. You can then apply for a mortgage based on the remaining 75% of the house price.

The equity loan is interest free for up to 5 years and is available on all new build houses up to the value of £600,000.

Am I eligible?

The myth that surrounds the Help to Buy scheme is that it is only for first time buyers. This is definitely not the case, the scheme is available for any buyer looking to purchase a new build home. Whether you’re looking to go on to the property ladder or move up it, Help to Buy could be for you.

To be eligible for Help to Buy, you must be able to

  • Fund up to 75% of your chosen property through a conventional mortgage. You must take out a minimum of 25% as a mortgage.
  • You must not be borrowing more than 4.5x your gross household income.
  • Have no other residence or properties in your name or have any properties in your name before the completion date.
  • Not rent out your existing home and buy a second home through Help to Buy.
  • Have access to a minimum 5% deposit.

Help to Buy will then carry out an assessment of your application to make sure that you are in a position to afford a mortgage for your proposed purchase.

Affordability Calculator

The Help to Buy affordability calculator can provide an indicative guide to whether you could afford to buy a home with Help to Buy.

The Affordability Calculator provides an indicative guide to the Help to Buy Equity Loan eligibility only.
The information provided should not be relied on as confirmation of affordability or as a recommendation to proceed.