Help to buy schemes


Help to Buy is a Government-backed equity scheme available to all home buyers, not just first-time buyers.





  • Help to Buy is available to all new homebuyers,
    not just first time buyers
  • You only need a minimum 5% deposit to qualify
  • The Government will lend you up to 20% of the
    value of your property through an equity loan
  • You will only need to secure up to a 75% mortgage
    from a bank or building society
  • The loan can be repaid at any time or on the sale
    of your home
  • Only available on new build homes
  • Exclusively for owner occupiers
  • There is a maximum home purchase of £600,000
  • There is no upper limit on your household income


Q. Am I eligible?

A. Help to Buy is available to all buyers of new build homes, both first-time buyers and existing homeowners

Q. What is the maximum property purchase price?

A. The maximum home purchase price is £600,000

Q. What is the minimum deposit required?

A. You will need a minimum deposit of just 5% of the purchase price.

Q. What about my mortgage?

A. You will need to finance a minimum of 80% of the purchase price (this includes your 5% deposit).
If you can afford more than 85% of the purchase price you may not be eligible for Help to Buy assistance.

Q. What about the equity loan?

A. Buyers will be provided with an equity loan of up to 20% of the value of the property. This will be interest free for the first five years.

Q. What happens after the five years?

A. On the 5th anniversary of your equity loan an annual fee of 1.75% will be levied, payable on a monthly basis. Thereafter this will rise by RPI inflation plus 1% per annum.

Q. When will I have to pay back the equity loan?

A. The equity loan is repayable when you sell your home, or after 25 years, whichever is the sooner.

Q. Can I make repayments towards equity loan sooner?

A. You can make repayments to reduce the equity loan amount at any time. The minimum repayment is 10% of the market value of your home at the time of repayment.

Q. Am I able to get an interest only mortgage using Help to Buy?

A. No, the scheme is only available with a repayment mortgage.

Q. Can I use Help to Buy for a buy-to-let property?

A. No, the scheme is only available to owner occupiers (i.e. the person who has taken out the mortgage).

Q. What happens if the value of the property falls?

A. Up to 20% of the property market value is repayable, whether the value is less or more than the original full purchase price.