help to buy


Help to Buy is a Government-backed scheme which helps first time buyers and existing home owners purchase a home with as little as 5% deposit.

There are two ways to purchase a property with Help to Buy; either with an ‘Equity Loan’ or ‘Mortgage Guarantee’.

Equity Loan

With Equity Loan the government will lend you up to 20% of the value of your new build home up to the value of £600,000. You won’t be charged loan fees on the loan for the first five years of owning your home. This means you’ll only need to secure a 75% deposit from a bank or building society.

Just 5% deposit required to qualify

Available to all home buyers, not just first time buyers

100% home ownership

Equity Loan Help to Buy

For a home with a £200,000 price tag


If the home in the example above sold for £210,000 you’d get £168,000 (80%, from your mortgage and cash deposit) and you’d pay back £42,000 on the loan (20%). You would need to pay off your mortgage with your share of the money.

Who is Eligible?

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 will not be able to sublet the 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.

Find out more on the official: Help to Buy website

Mortgage Guarantee

The Help to Buy Mortgage Guarantee works in exactly the same way as any other mortgage except that under the scheme the Government offers lenders the option to purchase a guarantee on mortgage loans. Due to this support, lenders taking part are able to offer home buyers more high-loan-to-value mortgages (80-95%).

You will still be fully responsible for your mortgage repayments. So if you have a 5% deposit, you will need to take out and pay back a 95% mortgage.

Mortgage Gurantee Help to Buy

For a home with a £200,000 price tag

Who is eligible?

A mortgage under the Help to Buy: Mortgage Guarantee scheme works like any other mortgage.

To qualify:

The property can be an existing or new build home in the UK, priced up to £600,000

You must not own any other property anywhere in the world at the time you buy your home supported by the Help to Buy: mortgage guarantee scheme

Your mortgage must be a repayment one, not interest only.

You cannot let the property

Your mortgage can be taken out by a company

Cannot be combined with any other Government scheme.

Find out more on the official: Help to Buy website