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%.Get Started
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.Apply Now
How much deposit do I need for a Help to Buy mortgage?
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?
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?
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?
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?
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?
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.
We work around your lifestyle and work schedule, allowing you to connect with an advisor at a time that is convenient to you.
We're only paid on results, not with any up front costs!
You will have a familiar face all throughout your process.
We'll be here to answer all of your questions about the various help to buy schemes, helping you to decide which one is right for you.
We'll be able to suggest the most appropriate insurance products to ensure you are able to stay in your home, should you become seriously ill or unable to work.
Your mortgage advisor will analyse your circumstances and search through 1000s of mortgage deals, to find the most suitable one for you.
We fully understand the workings of the various help to buy schemes, and will use our knowledge to best help you on your journey.
We'll be by your side all throughout, providing guidance and support whenever we're needed. We can also help to suggest property surveys and recommend conveyancing solicitors.
Our Customers Love Us
4.97 Rating246 Reviews
My initial interaction with Faye from UK money man has been really personable and I felt like she understood my needs very well. I’m hoping they can help deliver what I need and I didn’t feel any pressure to have to go further with my...
UK Moneyman have been super helpful and reliable. Have always been able to count on them getting back to us quickly and made us feel comfortable checking anything out we were not really sure about. They made the whole process as easy and hassle free...
The team were fantastic, in finding the product for me. Jo also walked me through what to expect when purchasing your first home I.e. time frames, and answer my many questions. Also their after care has been great, checking in on how the purchase is...
Myself and partner used UK Moneyman for our first time buyer mortgage. We’ve had round the clock care well above the norm. Multiple routes forward regarding which mortgage to go for with lots of information to help prepare us through the...
I cannot thank the UK Moneyman service enough. Securing a mortgage meant more than just that to me, it was – is - a life chance. However, because of my credit history, I didn’t think that it could be done. Right from the start of the...
Leo and Kayleigh have been great from the first phone call that I made to them. They have both helped us each step of the way and it has been a great comfort to my wife and me that everything had been taken care of by them both. We will definitely...
Ryan and Kayleigh were incredibly helpful and always available to answer our questions whenever we needed - and we had a lot of them as we are first time buyers who didn't have a clue about any of the process to begin with! They secured our...
UK money man where so helpful. Chloe and Joe was amazing with us. Stayed in contact with us giving advice and updates, so glad we chose UK money man! Thanks for all your help.
Amazing, when ne and my partner first looked into buying a house, we had no idea about how to get a mortgage or anything. Moneymen were extremely helpful all the way through and sorted everything smoothly and efficiently! Very happy, will use again...
We’re so glad that we decided to use UKM to help us through the process of buying our first home, they took most of the stress off our shoulders and we’re always there to answer any queries. Would definitely recommend them to anyone...
I found Dinah at Harrogate Moneyman to be extremely supportive. She listened carefully to our needs, proposed solutions and followed up closely. A great service - I’d recommend Harrogate Moneyman to anyone looking for mortgage options.
Absolutely fantastic from the start of the process. Everything was explained really clearly and I feel that the advice given to me throughout was done so with my best interests at heart. Would recommend to anyone looking into getting a mortgage.
I used UK moneyman after using many other brokers. Tom Dent and Meghan Robinson fought for my case and was able to land me the mortgage offer I needed. In such a sellers market, having a great team around you makes such a difference. I will...
Mizna has been amazing and helped us to get a better mortgage protection for a cheaper price than what we previously had. Would definitely recommend!
excellent as always and very efficient. used them for my first-time mortgage and also my remortgage now
Excellent service from Mizna. Went the extra mile to get me the best deal. Will definitely use again.
Mizna Coates helped me reviewing a critical illness protection plan I have. Her advice helped me to take an informed decision. I feel her advice was honest and thorough, keeping my best interest as a priority and not just trying to sell me a...
For me, UK Moneyman is very experienced, very professional, Great advisor, very friendly and respectful. They always get you prompt response. I was so comfortable with them during the whole process. I strongly recommend them. Special thanks to all...
MoneyMan have been nothing but helpful with my mortgage enquiries. Quick to respond and found me an excellent rate I wouldn't have found without them. Highly reccomend.