Example house value
£300,000
Buyer's 5% deposit
Government's 20% loan
75% mortgage from approved lender
You pay as little as 80% of the full purchase price up front (5% deposit plus 75% mortgage)
The remaining 20% is an equity loan form the Government (You must pay back the loan at the end of your main mortgage term or when you sell your home)
Help to Buy equity loan is only available on new-build homes
Available to first-time buyers purchasing their own home*
Maximum property purchase price of £437,600 dependent on location outside of London
Source: Budget 2013 HM Treasury - www.hm-treasury.gov.uk/budget2013
Allowing you to borrow up to 20% of the cost of a new home (or 40% in London), Help to Buy gives you the chance to spend between £186,100 and £437,600 on your new home (or £600,000 in London) – although regional caps apply.
When applying for the Help to Buy scheme, you should always seek professional advice from a mortgage advisor or a financial expert to understand payments on a mortgage based on your situation.
The Help to Buy scheme is only available for first-time buyers, but we have many other ways we can help homeowners looking to buy a new house. Check out Ways to Move.
For homes completing after April 2021, the amount first-time buyers can use to purchase a home using Help to Buy in England will depend on where you are buying.
Regional price caps have been introduced, so the amount you can spend could vary depending on where you are looking to buy, ranging from £186,100 to £437,600 (or £600,000 in London).
Use this map to find out what your regional price cap is.
1
North East
£186,100
2
Yorkshire and the Humber
£228,100
3
East Midlands
£261,900
4
East Of England
£407,400
5
London
£600,000
6
South East
£437,600
7
North West
£224,400
8
West Midlands
£255,600
9
South West
£349,000
Your region
Your deposit
You could afford a new Linden home up to the value of
£
With your deposit of
£
You could get a government loan of
£
And your mortgage will be
£
Number of bedrooms
Price min
Price max
Home type
Number of bedrooms
Price min
Price max
Can I buy any home with Help to Buy?
Help to Buy is available to first-time buyers ONLY on new build homes across England. Regional price caps are in place, meaning the amount you can use to purchase a home using Help to Buy in England will depend on where you are buying. Please see the regional map above for more information.
How does Help to Buy give me access to more competitive mortgage deals?
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.
Is the Help to Buy scheme open to everyone wanting to buy a new home?
Help to Buy is now only available to first-time buyers due to changes in government legislation in April 2021.
Are there any fees to pay?
The government loan is interest free for the first five years. However a management fee of £1 a month will be applicable from the date of purchase. After that you pay a rate of 1.75%, rising by 1% each year, plus the RPI. You may also be required to pay mortgage arrangement fees.
Can I use Help to Buy if I'm an existing home owner looking to trade up?
No, changes to Help to Buy from April 2021 means that only first time buyers are eligible for the scheme.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
Credit is secured against your home. *Subject to status, Help to Buy Terms & Conditions and available on selected properties in England only. Eligible applicants will be offered an equity loan up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings/deposit where required. The equity loan is provided by Homes England and held as a second charge. This offer is not available in conjunction with any other promotion. Full details will be provided on request.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.