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
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?