What is Help to Buy?
A Government scheme aimed at helping people with small deposits to buy their first home or move up the property ladder. It's available as an equity loan until 2021.
A Government scheme aimed at helping people with small deposits to buy their first home or move up the property ladder. It's available as an equity loan until 2021.
Minimum 5% deposit
New-build homes only
First-time buyers or homemovers
Equity loan of up to 20%
Maximum property value £600,000
Must be your sole home
Scheduled to close in 2021
Help to Buy is a scheme aimed at first-time buyers and homeowners looking to move up the property ladder.
So long as you can raise a 5% deposit, the Government will provide an equity loan of up to 20% of the property value.
You'll then have to qualify for a standard mortgage for the remaining 75%. Lenders participating in the scheme include Santander, Barclays, NatWest and Halifax.
Help to Buy is available on new-build homes with a maximum value of £600,000. The scheme is scheduled to close in 2021.
Search Help to Buy homes in EnglandMinimum 5% deposit
New-build homes only
First-time buyers or homemovers
Equity loan of up to 40%
Maximum property value £600,000
Must be your sole home
Scheduled to close in 2021
London Help to Buy is a scheme aimed at first-time buyers and homeowners looking to move up the property ladder in the capital.
So long as you can raise a 5% deposit, the Government will provide an equity loan of up to 40% of the property value – that's double the 20% offered under Help to Buy in England and is designed to reflect higher property prices in the capital.
You'll then have to qualify for a standard mortgage for the remaining 55%. Lenders participating in the scheme include Santander, Barclays, NatWest, Nationwide and Halifax.
London Help to Buy is available on new-build homes with a maximum value of £600,000. The scheme is scheduled to close in 2021.
Search Help to Buy homes in LondonMinimum 5% deposit
New-build homes only
First-time buyers or homemovers
Equity loan of up to 20%
Maximum property value £300,000
Must be your sole home
Scheduled to close in 2021
Help to Buy (Wales) is a scheme aimed at first-time buyers and homeowners looking to move up the property ladder in Wales.
So long as you can raise a 5% deposit, the Government will provide an equity loan of up to 20% of the property value.
You'll then have to qualify for a standard mortgage for the remaining 75%. Lenders participating in the scheme include Barclays, TSB and Nationwide, Skipton and Leeds building societies.
Help to Buy (Wales) is available on new-build homes with a maximum value of £300,000. The scheme is scheduled to close in 2021.
Search Help to Buy homes in WalesMinimum 5% deposit
New-build homes only
First-time buyers or homemovers
Equity loan of up to 15%
Maximum property value: £200,000 until March 2021
Must be your sole home
Also known as the Affordable New Build or Smaller Developer scheme
Help to Buy (Scotland), also known as the Affordable New Build or Smaller Developer scheme, is aimed at first-time buyers and homeowners looking to move up the property ladder in Scotland.
So long as you can raise a 5% deposit, the Scottish Government will provide an equity loan of up to 15% of the property value. You'll then have to qualify for a standard mortgage for the remaining 80%.
Lenders participating in the scheme include Barclays, Glasgow Credit Union, Leeds Building Society, Lloyds Banking Group, Nationwide, Scotwest Credit Union, Skipton Building Society, TSB and Virgin Money.
Help to Buy (Scotland) is available on new-build homes with a maximum value of £200,000 for completions made before March 2021.
Search Help to Buy homes in ScotlandIt's a loan that's linked to the rise and fall in the value of your home. If you take a 20% equity loan for example, the amount you owe will always represent 20% of the property's value.
You won't be charged loan fees on the equity loan for the first five years of owning your home.
After five years you will be required to pay an interest fee of 1.75% of the amount of your Help to Buy shared equity loan at the time you purchased your property, rising each year after that by the increase (if any) in the Retail Prices Index (RPI) plus 1%.
The loan itself is repayable after 25 years or on the sale of the property if earlier.