Help to Buy is a government scheme created to help first time buyers and existing home owners to purchase a home, and get on the property ladder, with as little as a 5% deposit.
How does it work?
The government lends you up to 20% of the purchase price of your new build home, so you will need a 5% cash deposit and a 75% mortgage. There are no loan fees charged on the 20% loan for the first five years. Example of Help to Buy on a home with a purchase price of £200,000
Can I use the Help to Buy scheme?
Equity loans are available to first time buyers as well as homeowners. The home you want to buy must be a new build property with a price tag of up to £600,000. You will need a 5% cash deposit to use the scheme. You must not own any other property at the time you buy your new home.
Please click below to open the Help to Buy Buyer's Guide for further information