London Help to Buy Scheme
Get a 40% Equity Loan from the Government with Help to Buy
What is the London Help to Buy Equity Loan?
The Government-backed London Help to Buy Equity Loan is aimed at first-time buyers and is designed to help those moving up the property ladder.
Benefits of the scheme include reduced mortgage payments with a boosted deposit, as well as access to an extensive range of mortgage products.
View our London properties to see if Help to Buy is available in the area you are interested in.
How does Help to Buy work when buying in London?
- The Government loan covers up to 40% of the value of your new home. The loan is interest free for the first five years and you pay a monthly management fee of £1.
- You will need a 5% deposit
- You will need a 55% mortgage
Help to Buy: Equity Loan Eligibility
- the home you want to buy must be sold by a Help to Buy house builder
- the amount you pay for a home depends on where you are buying. Help to Buy now has Regional price caps in place, follow this link to find out about the price cap in your area.
- you must be able to afford the monthly repayments on your new home
- you must not own any other property at the time of purchase
- you may not sublet your new home
To reserve a Help to Buy home with L&Q, our sales team will refer you to an independent financial advisor who will be able to assist with completing a Help to Buy application
What if a Help to Buy : Equity Loan isn't right for you?
The Help to Buy Loan has changed
The government’s new Help to Buy scheme will come into effect from April 1st, 2021 and will run until March 2023.
- The new Help to Buy loan will only be available to first time buyers.
- The new Help to Buy loan will include regional price caps. The amount you pay for a home depends on where you are buying. Help to Buy now has Regional price caps in place, follow this link to find out about the price cap in your area.
- Before December 15th 2020 Help to Buy was available for properties up to £600,000 across the country.*
*The deadline to buy a home under the previous scheme was December 15th 2020, ensuring an exchange date of March 31st 2021.
Find a London Help to Buy home near you
We have homes available across London