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What is Help to Buy?

Help to Buy is a Government initiative that aims to help first-time buyers get on the property ladder. It was designed to help those who can afford mortgage repayments but may be struggling to save up the 20% deposit normally needed. There are two different parts to scheme:

An equity loan
This is for buyers of new-build properties only (with selected developers). The Government provides a repayment loan of up to 20%, for properties outside London and up to 40% for properties located in London.

A mortgage guarantee
This is for older homes and can't be used for new build homes. A new build is defined as any property built, first occupied in it’s current state or significantly modernised, refurbished or altered within the last 2 years.The Government guarantee 15% of your mortgage that means you only need a 5% minimum deposit.

There are certain eligibility criteria you need to meet to be eligible for Help to Buy. This includes: you need to be planning on living in your house, you must be over 18 and you can’t own any other property in full or in part, the property needs to be in the UK and it can’t cost more than £600,000. See full eligibility criteria in our Mortgages section.

Like to know more? Take a look at the Help to Buy website or Money Advice Service for more details.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Find out if you're eligible

Help to Buy scheme overview video

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Want to know more about Help to Buy

We’re supporting the Government’s Help to Buy: mortgage guarantee scheme with a range of 5% deposit mortgages – helping you buy your home sooner with a smaller deposit. Watch our video guide for more details. 

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