What is Help to Buy: Equity Loan?

The Help to Buy: Equity Loan scheme is a Government-backed initiative aimed at first-time buyers, as well as people moving up the property ladder.

The scheme helps to keep your mortgage payments lower by boosting your deposit. It also delivers other benefits, such as giving you access to a wider range of mortgage products.

Check out our homes to see if Help to Buy: Equity Loan is available on the homes you are interested in.

How does it work?

The Help to Buy: Equity Loan scheme is available to first-time buyers as well as homeowners looking to move.

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home. The scheme is available on new build homes valued up to £600,000 to all UK residents. The government has provided information for you to check whether you’re eligible to use the  Help to Buy: Equity Loan scheme.

Other schemes that are available
In addition to the Help to Buy: Equity Loan scheme, L&Q also offer Shared Ownership scheme. Learn more about Shared Ownership to find the scheme that is more suited to you.

Next Steps
Help to Buy is currently available on all Private Sale houses at Saxon Reach under £600,000 so don’t miss out on your chance to take advantage of this home-buying scheme!

From April 2021, Help to Buy will be restricted to first-time buyers and includes regional property price caps. There are no changes to the current Help to Buy: Equity Loan scheme which runs to March 2021.