What is Help to Buy?
The UK government’s Help to Buy scheme is designed to help people buy their own home. It’s made up of a selection of support initiatives, including:
- Help to Buy Shared Ownership: For people who can afford to buy between 25–75% of their home and pay rent for remaining share.
- Help to Buy Equity Loan: For people buying new-build homes, the government will lend you 20% of the price.
Help to Buy Advice
Getting a foot on the property ladder can be a struggle for many people. 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.
Who is eligible for help to buy schemes?
Equity loans are available to first-time buyers as well as homeowners looking to move. The home you want to buy must be newly built with a price tag of up to £600,000.
You won’t be able to sublet this home or enter a part exchange deal on your old home. You must not own any other property at the time you buy your new home with a Help to Buy: Equity Loan.
This scheme is available in England only. The Scottish Government, Welsh Government and Northern Ireland Housing Executive run similar schemes – check out their websites.
For a free initial consultation on help to buy please call 01283 567 200