Help to Buy

Find out more about government schemes.

Help to Buy

The government has created the Help to Buy schemes including Help to Buy: Shared Ownership and Help to Buy: Equity Loan to help hard-working people like you take steps to buy your own home.

Help to Buy: Equity Loan

This scheme is only available if you’re buying a new-build home. The Government lends you 20% of the cost of your new-build home, so you only need a 5% cash deposit and a 75% mortgage to make up the rest.

There are no interest charges or fees on the Government’s 20% loan during the first five years of you owning the property.

Help to Buy London

To reflect the current property prices in London, from 1st February 2016 the Government increased the upper limit for the equity loan it gives new home buyers within Greater London from 20% to 40%.

With London Help to Buy you’ll need to contribute at least 5% of the property price as a deposit, the Government will give you a loan for up to 40% of the price and you’ll need a mortgage of up to 55% to cover the rest.

The following lenders are now actively involved in lending for London Help to Buy: Barclays, Lloyds, Nationwide, Aldermore, Precise, Nat West and Leeds Building Society.

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