What is Help to Buy?

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.

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.

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.

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 2018/ £175,000 until March 2019

• Must be your sole home

• Scheduled to close in 2019

• Also known as the Affordable New Build scheme

Help to Buy (Scotland), also known as the Affordable New Build 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, TSB, Nationwide, Leeds Building Society and Glasgow Credit Union.

Help to Buy (Scotland) is available on new-build homes with a maximum value of &pound200,000 for completions made before March 2018, and &pound175,000 for completions made before March 2019. The scheme is scheduled to close in 2019.

You'll need to apply at least nine months before your estimated completion date.