The facts

A range of Help to Buy home ownership schemes are available in England. But what does it all mean? 

What is help to buy?

Help to Buy is a government scheme designed to help first-time buyers struggling to get on the property ladder. The equity loan scheme has been extended to March 2023.

How does it work?

For the Help to Buy Equity Loan buyers are offered you up to 20% of the cost of a new build home by the government. The buyer only needs to provide a 5% cash deposit. You will need a mortgage to make up the other 75% of the property's value. You also won’t have to pay fees on the 20% loan for the first five years of owning your home. 

Who is eligible?

To be eligible for a Help to Buy loan, you must:

  • Be able to demonstrate access to savings or funds to pay a deposit of at least 5% of the purchase price, plus legal fees, stamp duty and costs of moving.
  • Be purchasing a property worth £600,000 (in London) or less in other parts of the country price caps can be found here.
  • Have a good credit history.
  • Take out a mortgage with a qualifies lender (e.g. a bank or building society).
  • You must not own any other property at the time you buy your home supported by the Help-to-Buy. 

How do I apply?

Speak to estate agents and developers selling new homes stock with help to buy available. They'll often be able to recommend mortgage advisors who can guide you through the process.

Shared Ownership and Lifetime ISA are other ways to help you save for your first home.  

Take a look at our frequently asked questions for more information.


Use our Help to Buy calculator to find out how much you can borrow!