Help to buy schemes


Help to Buy is a Government-backed equity scheme available to first-time buyers.  The new Help to Buy: Equity Loan (2021-2023) helps those who need it the most, first time buyers.







  • Help to Buy is available to 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 £261,900
  • There is no upper limit on your household income


Q. Am I eligible?

A. Help to Buy (2021-2023) is available to first-time buyers

Q. What is the maximum property purchase price?

A. The maximum home purchase price in the East Midlands region is £261,900

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 interest fee starting at 1.75% will be levied, payable on a monthly basis. Thereafter this will rise each year in April by the Consumer Prices Index including owner occupiers’housing costs (CPIH) plus 2%.

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. Do I pay back more than I borrowed?

A. The amount you borrow is based on the market value of your new home when you buy it.

When you repay some or all of your equity loan, the amount you pay is worked out as a percentage of the market value at that time.

If the market value of your home increases, so does the amount you have to repay. And if the value of your home falls, the amount you have to pay also falls.