Example house value
£600,000
Buyer's 5% deposit
Government's 40% loan
55% mortgage from approved lender
You pay as little as 60% of the full purchase price up front (5% deposit plus 55% mortgage)
The remaining 40% 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 £600,000 dependent on location
Source: Budget 2013 HM Treasury - www.hm-treasury.gov.uk/budget2013
The new Help to Buy 2021-2023 scheme is now in place meaning that Help to Buy London is now exclusively for first-time buyers.
You could still borrow up to 40% of the cost of a new build home (or 20% outside of London), and use the scheme to buy a home worth up to £600,000 (or between £186,100 and £437,600 outside of London).
If you're a second time buyer, we have many other ways we can help homeowners looking to buy a new home. 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 is dependent on where you are buying.
In London, this means you can purchase a new Linden Home up to the value of £600,000.
Use this map to find out more about the regional price caps.
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 London?
Help to Buy is available to first-time buyers ONLY on new build homes up to the value of £600,000 in London. 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 40% of the value of the new home, you only need to secure up to a 55% 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 London is now only available to first-time buyers due to changes in government legislation in April 2021.
Are there any fees to pay?
You will not be charged any fees on the 40% loan for the first five years of owning your home. However a management fee of £1 a month will be applicable from the date of purchase. From year six, a fee of 1.75% is payable on the equity loan, which rises annually by RPI (Retail Price Index) inflation plus 1%.
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 within London only. Eligible applicants will be offered an equity loan up to a maximum of 40% of the purchase price (based on the open market value). Applicants are required to fund at least 60% 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.