Help to Buy

Help to Buy

Help to Buy is a Government initiative designed to offer financial help to new and existing homeowners. Whether you’re a first time buyer or a homeowner looking to move, there are Help to Buy options available.

EQUITY LOANS

An Equity Loan is a low-interest loan from the Government towards your deposit, allowing you to buy 100% of your home.

• Just 5% deposit required
• The Government will lend you up to 20% of your purchase price
• You need to take out a mortgage for the remaining 75%
• Pay back the loan after 25 years or when you sell your home
• Pay back part or all of your loan at any time.

• Available for first time buyers and homeowners looking to move
• Only available on new-build homes
• The purchase price must be under £600,000.

SHARED OWNERSHIP

If you can’t afford the mortgage on 100% of a home, you have the option to buy a share in the property and pay rent on the remaining share.

• Buy between 25-75% of a home, and pay rent on the rest
• Available for first time buyers, those who used to own a home but can no longer afford to, and households earning less than £80,000 a year
• You can buy more of your home after you become the owner
• Shared Ownership properties are leasehold.

To find out more about Help to Buy, please visit www.helptobuy.gov.uk