Help to Buy
Help to Buy is a government-backed scheme that helps first time buyers get onto the property ladder. It reduces the amount you need for a deposit when compared to buying a home on the open market.
The Help to Buy: Equity Loan scheme was launched on 1 April 2021. It provides you with an equity loan of up to 20 percent of the value of a new build home. The Government provides the 20 percent loan (40 percent in London) so that you only need to raise a five percent deposit, with a 75 percent mortgage (55 percent in London) making up the rest.