Help to Buy
Help to Buy is now for first time buyers only.
What is Help to Buy?
Help to Buy has changed!
The new Help to Buy 2021-2023 scheme is now in place. Help to Buy is now only available to first-time buyers, due to changes in government legislation. If you’re an existing homeowner wanting to move, you can check out our other helpful purchase schemes. Regional caps are now in place, meaning you can spend between £186,100 and £437,600 on your new home (or £600,000 in London), depending on where it’s located.
How does Help to Buy work?
By using the scheme you need just a 5% cash deposit, with the government providing an equity loan of up to 20% of the value of the property you’re buying. You then need to secure up to a 75% mortgage, which opens the door to more competitive lending rates, and may make your repayments more affordable than you first thought.
What’s more, you won’t be charged interest or fees on the government equity loan for the first five years of owning your home, and you can choose to repay the equity loan at any time without penalty, or upon the sale of your home
So, if you thought a high-quality brand new home was out of reach – think again. Come and speak to one of our sales consultants and let’s see if we can get you moving.
Regional price caps
For homes completing after April 2021, the amount you can purchase a home for using Help to Buy in England will depend on the region you are buying in.
The new regional price caps mean you can spend between £186,100 and £437,600 (or £600,000 in London) on your new home, depending on where it’s located.
Use this map to find out what your regional price cap is.
Is Help to Buy right for me?
- Are you struggling to save for a deposit, thinking home ownership is out of reach?
- Are you a first-time buyer needing helping to get on the property ladder?
- Would you like to move into a brand-new home more quickly that you thought possible?
Reasons to choose Help to Buy:
- Just a 5% deposit required.
- The government lends you up to 20% of the house value with an equity loan.
- An initial interest-free period of 5 years on the government equity loan.
- More competitive mortgage deals available with just a 75% mortgage to secure.
- Government-backed scheme exclusively for new homes, helping thousands to buy their own home since 2013.
- Equity loan can be repaid at any time or on sale of home.
- Can be used with our discount schemes for the serving military
Take a look at our handy Help to Buy mortgage calculator to work out your maximum purchase price, mortgage required, and estimated monthly repayments based on the deposit you have available.Help to Buy mortgage calculator
For more information on the Help to Buy - Equity loan, view the Help to Buy Buyers’ Guide. This explains how the scheme works with financial examples, along with details on the buying process.Help to Buy buyer’s guide
Frequently asked questions:
With Help to Buy, you won’t be charged interest or fees on the Government equity loan for the first five years of owning your home. That means lower overall mortgage payments.
With a 5% deposit and the government’s equity loan of up to 20% of the value of the new home, you only need to secure up to a 75% mortgage. This means you may benefit from more competitive lending rates and a wider mortgage choice.
Try our Help to Buy mortgage calculator. Work out your maximum purchase price, mortgage required, and estimated monthly repayments based on the deposit you have available.
From April 2021, Help to Buy will only be available to first-time buyers due to changes in government legislation.
No, there are no restrictions on annual household incomes for this scheme.
No, changes to Help to Buy from April 2021 means that only first time buyers will be eligible.
From April 2021 Help to Buy will be available to first-time buyers ONLY due to changes in government legislation. There will also be changes to regional variations in maximum property values. For those who have purchased a home from us before March 2021 the previous Help to Buy scheme will still apply. Please ask us for further details.
Terms and conditions: The Help to Buy equity loan scheme has specific terms and conditions and is subject to affordability criteria as prescribed by the Homes and Communities Agency. Not to be used in conjunction with any other purchase assistance scheme, offer or promotion. Please ask our sales consultant for details.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT