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.

Help to Buy works a bit differently depending on where in the UK you are buying a home.

Help to Buy England

The basics

  • 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.

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London Help to Buy

The basics

  • Minimum 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.

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Help to Buy (Wales)

The basics

  • Minimum 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.

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Help to Buy (Scotland)

The basics

  • Minimum 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.

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