Help to buy new build

Help to Buy scheme

Help to Buy: Equity Loan is a government scheme for first-time buyers. It provides a loan, called an equity loan, that you put towards the cost of buying a new build.

Help to Buy aims to help first-time buyers to get on the property ladder. If you’re eligible for an equity loan, you can borrow up to 20% (40% if you’re in London) of the market value of a new build

During the term of the equity loan you only pay interest on the amount you borrowed. You do not pay off any of the loan itself. But you can choose to pay all or part of it off at any time. If you sell your home, you will need to pay off all of your equity loan.

You can only apply for an equity loan if you reserve a new build from any of the homebuilders registered with the Help to Buy scheme (registered homebuilders).

More information on repayment and eligibility criteria can be found here

Who can apply for a Help to Buy: Equity Loan?

You will need to meet the eligibility criteria to get a Help to Buy: Equity Loan.

Please speak with one of our Andrews Mortgage Brokers to find out more.