Help to Buy Mortgages

Thanks to the government’s Help-to-Buy Schemes, you a may be eligible to get a property with as little as a 5% deposit. As a mortgage broker we can help inform you about all the different schemes available.

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Find out whether the Help-to-Buy Equity Loan Scheme could help you buy a new build home.

You can take out a Help-to-Buy Equity Loan from the government for up to 20% of the purchase price of a new build property (40% in London).

You must put down at least 5% deposit from your own savings or a family gift. If the builder is contributing towards the deposit that’s also acceptable, but this needs to be in addition to your 5%.

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How do borrowers repay the Help-to-Buy Equity Loan Scheme?

You do not make any payments on the equity loan for 5 years and if you want to avoid fees accruing then you would look to pay it off at that time from savings and/or a remortgage.

As a responsive mortgage broker we have helped many customers throughout their mortgage process, right until they received the keys to their new property by utilising the Help-to-Buy Scheme.

Book yourself for a free mortgage appointment online to speak to one of our mortgage advisors, who will guide you throughout the entire process.

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Popular FAQs

How much deposit do I need for a Help to Buy mortgage?

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A minimum of a 5% deposit is required for the Help to Buy Equity Loan Scheme, although, you can increase this amount up to 20% if you have the ability to do so. The more deposit that you put down, the less the government will need to lend you to make up the 25% overall deposit.

Who can access the Help to Buy Equity Loan scheme?

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You must be a first time buyer to be able to access the Help to Buy Equity Loan Scheme.

Can the scheme be used on any property?

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The Help to Buy Equity Loan scheme is restricted to new builds only and the builder must be registered for Help to Buy. The maximum property price is capped depending on the property's location. The cap is based on 1.5x the average property price in the region.

How do you pay back the Help to Buy Equity Loan?

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You can pay back the equity loan at any time in the first 5 years without incurring any penalties or additional charges. During the first 5 years the equity loan will be interest free. If you do not manage to pay it off within this time frame, you will start receiving interest on the remaining amount, starting at 1.75%.

Are the Help to Buy mortgage rates good?

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Help to Buy mortgage rates will vary depending on what sort of deal that you are looking for. Since the deposit is 25% including the government’s loan this means you will be looking at a lower rate of interest than say if you were putting down 10% on a standard (not new build) home.

Why use a mortgage broker?

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With the help of a mortgage broker, we can answer any questions related to mortgages. We also provide expert mortgage advice across all the different schemes available. Book your free mortgage appointment online today to see how a mortgage advisor can help you get into the property ladder.

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Open 7 days a week until late.

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No cost to you consultation.

No upfront fees payable, we are paid on results only.

You'll get your own dedicated case manager.

You'll always know who you are dealing with.

We're on your side, we work for you.

Getting a new mortgage or porting an existing mortgage isn’t always easy. We’ll be here to answer all your questions throughout the whole process.

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Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.

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We shop around for the cheapest deal for you, saving you time and money.

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There isn't a situation we haven't come across before, we fully understand your needs.

It's not just about the mortgage.

We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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