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The Help to Buy scheme in England

The “Help to Buy” scheme in England allows you to buy a home with just a 5% deposit. The government will give you a 20% equity loan, giving you a total deposit of 25%. You will then take out a 75% mortgage. The government loan is interest free for the first 5 years.

As an example, based on a property price of £200,000, you would contribute £10,000, the government would then give you an equity loan for £40,000, and your mortgage provider would give you a mortgage of £150,000.

New changes to the Help to Buy scheme

For new home completions from 1st April 2021 onwards, the scheme is only available to first time buyers, so in order to be eligible you must never have owned a home.

There will also be regional price caps based on local markets, meaning there will be a limit to the price of the house you are able to buy depending on where you want to live within England. Currently the price cap is the same throughout the country.

You can apply for the new scheme now and get the keys to move in from 1st April 2021. This new scheme is set to be available for only two years, until 31 March 2023.

Find out more about the new scheme, read the Own Your Home | Help to Buy: Equity Loan 2021-2023 - Own Your Home

The regional price structure for the new scheme is as follows:

North East £186,100

North West £224,400

Yorkshire and The Humber £228,100

East Midlands £261,900

West Midlands £255,600

East of England £407,400

London £600,000

South East £437,600

South West £349,000


What will I pay after 5 years?

The government loan is interest free for the first five years after you purchase your property, after which a fee will apply starting in the 6th year. Your solicitor or conveyancer will be able to give you more precise information regarding your future fees.

Am I eligible to buy a home with Help to Buy?

The government launched the Help to Buy scheme to make it easier for first time buyers to get on the property ladder. If you are in a position where you want to buy a new property, but you cannot afford a large deposit, this could be an excellent option.

To be eligible you must be 18 or over, you cannot have previously owned a property, and the purchase price of the property you are planning to buy is less than the regional price cap depending on where you want to live (see above). This scheme is available in England only. The Scottish Government, Welsh Government and Northern Ireland run similar schemes – check out their websites.

How do I go about buying a home through Help to Buy?

Most new build home developers will be able to offer advice on the availability of Help to Buy schemes at their developments. Simply enquire about the development you’re interested in, and ask about Help to Buy. You can also talk to a Help to Buy agent in the area you want to live.

Find out more on the Government's Help to Buy website.

Things to consider before buying a home using Help to Buy

There are other factors which may impact your decision on whether Help to Buy is right for you. Make sure you speak to an independent financial advisor and weigh up the pros and cons before you decide:

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House builders with Help to Buy available

The following house builders offer Help to Buy across their developments:

360 PropertyAcorn New HomesAcorn Property GroupAlbemarle HomesAllison HomesArgent RelatedAshberry HomesAshwood HomesAspen WoolfBarnard MarcusBarratt HomesBarratt LondonBarwood HomesBeech Grove HomesBeechcroft DevelopmentsBellwayBellway LondonBerkeley HomesBewley HomesBidwellsBloor HomesBoKlokBovis HomesBPC Land & New HomesBussey & ArmstrongCala HomesCamrose LondonCatalystCavanna HomesCentral & Cecil Housing TrustChameleon GroupCharles ChurchCharworth HomesChestnut HomesCity & CountryColliers InternationalCordia BlackswanCountryside PropertiesCreate HomesCrucible HomesCSJ PropertyCubitt & WestCussinsDavid Wilson HomesDavidsons HomesDeanfield HomesDelaney'sDominus New HomesDorchester Living Douglas AllenEarlsriver LtdElevate Property GroupElivia HomesErris HomesFabricaFairview New HomesFHP LivingFHP Living WatersideFox & SonsFraser & CoFreeman HomesFrost PropertyGama LivingGarrison EstatesGleesonGraven HillGRE AssetsGuinness HomesHammond HomesHamptonsHarron HomesHayfieldHector Godwin HomesHill GroupHJK PropertiesHouse by Urban SplashHousing SolutionsHyde New HomesJLLJohn ShepherdJOHNS&COJones HomesKeepmoat HomesKempton HomesKendrick HomesKinleigh Folkard & HaywardL&QLagan HomesLancet HomesLantana EstatesLegal & General HomesLifestory GroupLinden HomesLondon CLTLondon GreenLovell HomesMackenzie SmithMarsh & ParsonsMatthew HomesMiller HomesMillgate HomesMorfittSmithMuse DevelopmentsNewland HomesNoble HomesNorth Bar HomesNorth Property GroupNotting Hill GenesisNU livingOne HousingOptivoOrbit HomesOwl HomesPeabodyPennyfarthing HomesPersimmon HomesPersona HomesPeveril HomesPorter Glenny New HomesProperty GeeksProspect HomesRed LoftRippon HomesRiverdale DevelopmentsRoger PlattRolfe EastRomansRooftop Housing GroupRowland HomesRWinvestSanctuary New HomesShanly HomesSigma HomesSlough Urban Renewalsmarthomes New HomesSO ResiSouthern Home OwnershipSt Edward HomesSt GeorgeSt Modwen HomesSt WilliamStrata HomesStrawberry Star HomesTaggart HomesTelford HomesTilia HomesTrilogyUrbanwiseWain HomesWalton HomesWards of KentWeston HomesWilliam Davis HomesWilliam H BrownWoodall Homes