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Help to Buy
Help to Buy is a government-backed scheme designed to help first time buyers get onto the property ladder. Provided as an equity loan, it could give you the financial boost you need to purchase your first brand new home.
Helping you take the first step
Help to Buy is available to first time buyers who want to purchase their first home. This ‘equity loan’ from the government covers up to 20% of the value of your new home where you only require a 5% deposit.
There are several criteria you need to meet to qualify for the Help to Buy scheme.
These are: Help to Buy Equity Loan – Eligibility Criteria
- You only need a 5% deposit
- You must have a repayment mortgage of at least 25% of the purchase price of your new home
- Available for new build homes up to the value of £261,900 in this region
- Available to first-time buyers only
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The benefits of Help to Buy
This Government-backed scheme could help you purchase your dream home through a generous equity loan. This loan is interest-free for 5 years and covers up to 20% of the purchase price. This allows you to buy with a smaller deposit, meaning you can buy your home sooner. Unlike with shared ownership schemes, with Help to Buy homeowners own 100% of their new home.
