Fact sheet

Help to Buy

Help to Buy equity loans

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.

You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

Help to Buy equity loans are open to both first-time buyers and home movers on new-build homes worth up to £600,000.

London Help to Buy

To reflect property prices in London the Government lends you up to 40% of the cost of a newly built home, so you'll need a 5% deposit and a 65% mortgage to make up the rest.

You won’t be charged loan fees on the 40% loan for the first five years of owning your home.

London Help to Buy equity loans are open to both first-time buyers and home movers on new-build homes worth up to £600,000.

In the March 2014 Budget the government extended Help to Buy equity loans to March 2020.

Another scheme, Help to Buy mortgage guarantees, were discontinued at the end of 2016.

For further information on Help to Buy schemes, including London Help to Buy, please visit www.helptobuy.org.uk

For further information on other affordable home ownership schemes such as shared ownership please visit www.gov.uk

There are different home ownership schemes available in Wales and Scotland .

Contact

Simon Rex

Information Services Manager

Tel: 0207 520 5914 simon.rex@bsa.org.uk