What is the Help to Buy: Equity Loan?

The Help to Buy: Equity Loan is a government-backed scheme aimed at first-time buyers looking to buy a newly built home.*

The scheme helps to keep your mortgage payments lower by boosting your deposit. Work out if it can reduce your mortgage repayments using our Help to Buy affordability calculator. The scheme also delivers other benefits, such as giving you access to a wider range of mortgage products.

If you can offer a deposit of 5% of the home’s total value then you can borrow up to 20% (outside London) or 40% (in London) of your home’s value from the government. This loan is interest-free for the first five years.

Help to Buy has regional price caps in place,  so the amount you pay for a home will depend on where you are buying:

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

*Help to Buy: Equity Loan: terms and conditions apply. Applicants should seek independent financial advice, and get information and guidance on applying for a Help to Buy: Equity Loan at www.helptobuy.gov.uk.

To learn more visit the Help to Buy website

Who is eligible for Help to Buy?

Help to Buy is available subject to eligibility, terms and conditions.

 To apply for the new 2021-2023 scheme, the following eligibility criteria must apply to you and any joint applicant:

  • You must be a first-time buyer.
  • You must currently live in England.
  • You must not own any other home in the UK or abroad now or previously.
  • You must not have had any form of sharia mortgage finance.
  • Help to Buy is valid only on new build homes, with regional price caps up to a maximum value of £600,000.
  • Applicants in the Armed Forces have different entitlements and may be eligible to sublet a home. Read more on the Forces Help To Buy scheme, which runs until 2022.

For full details on eligibility, visit the Help to Buy website.


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What do 2021 changes to the Help to Buy : Equity Loan scheme mean for you?