Help To Buy

With a Help to Buy: equity loan the Government lends you up to 20% of the cost of your new-build home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

In England “Help to Buy” applies to properties up to the value of £600,000. In Wales “Help to Buy – Wales” applies to properties up to the price of £300,000.

If the home in the example here sold for £200,000, you’d get £160,000 (80%, from your mortgage and the cash deposit) and you’d pay back £40,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money.

For more information download the government’s Help to Buy Guide click here.

For more information download the government’s Help to Buy – Wales Guide click here.