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Help to Buy: Equity Loan scheme

We support the Government's Help to Buy: Equity Loan scheme which aims to help both first time buyers and home movers buy a new build home.
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Get help to buy your new home

If you're looking for a more affordable way to buy your home, then the government's Help to Buy schemes could benefit you.

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Top up your deposit with an equity loan
With a Help to Buy equity loan, you can add to your deposit on a new-build property, whether you’re a first-time buyer or buying a new home.
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Any questions about the Help to Buy Scheme? Image
Any questions about the Help to Buy Scheme?
Our expert advisors are here to chat through your options and answer any queries you might have.
Book your appointment
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Your mortgage is secured on your home. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Help to Buy

With a Help to Buy: Equity Loan, you could buy a brand-new house sooner than you think.

The scheme is available on selected new build properties for both first time buyers and home movers.

  • You only need a 5% deposit
  • The Government lends you up to 20% of the value of the property (15% in Scotland)
  • The loan is interest-free for five years

Help to Buy: Equity Loan

When you sell your property, or choose to repay some or all of the equity loan, the amount you have to pay back will be based on the market value of your property at that time.

For more information please visit helptobuy.gov.uk/equity-loan or mygov.scot/help-to-buy for properties in Scotland.

Next steps

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Arrange an appointment with one of our mortgage specialist, who will help you get on or move up the property ladder or remortgage your current home.
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FAQs

  • Am I eligible for a Help to Buy: Equity Loan?

    You can apply for a Help to Buy: Equity Loan if you:

    • Are 18 or older and buying a new build property
    • Don’t own another property
    • Can provide a deposit of at least 5% of the property’s value
  • How long is the Help to Buy: Equity Loan scheme available for?

    The new Help to Buy: Equity Loan scheme was launched on 1 April 2021. It is for first-time buyers and includes regional property price limits to ensure the scheme reaches people who need it most.

    The new scheme will run until March 2023. As with the previous scheme, the government will lend homebuyers up to 20% of the cost of a newly built home, and up to 40% in London.

    The previous Help to Buy: Equity Loan scheme ran until March 2021.

  • What types of mortgage are available with Help to Buy: Equity Loan?

    Repayment mortgages are the only option with this scheme.

  • What is the maximum property purchase price?

    The maximum purchase price is £600,000 for properties in England and £200,000 for properties in Scotland.

  • What is the interest rate on the Equity Loan?

    You don’t have to pay borrowing fees or interest on the Equity Loan for the first 5 years after buying your home, although you can start repaying the loan whenever you want to.

    After 5 years, there will be an interest fee of 1.75% of the amount of your Equity Loan at the time you took it out, which will rise each year after that by the increase in the Retail Price Index.