Help to Buy Scheme Return to all services
Help to Buy Equity Loan
Phase One – New Build Only
In April 2013, the Government rolled out the first phase of the Help to Buy scheme, offering equity loans to first time buyers and existing homeowners on new build properties. The scheme works by providing borrowers with a loan of up to 20% of the property value. If a 5% deposit is placed, because of the equity loan, a mortgage of only 75% is needed from a lender.
This scheme is available in England only until 2021. Different variations to the Help to Buy scheme apply in Wales and Scotland.
Phase Two – All properties
The second phase of the Help to Buy scheme came into effect in October 2013. With this scheme, first time buyers and existing homeowners are able to purchase any property in the UK - not just in England - with a deposit as low as 5%.