What is London Help to Buy?

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

Check find a home to see if London Help to Buy will be available on the apartment you are interested in.

How does it work?
You could borrow up to 40% of the purchase price from the Government with  London Help to Buy.  You only need a 5% deposit and your mortgage would make up the other 55%. The scheme is available on new build homes valued up to £600,000 to all UK residents, of any age, within the 32 London boroughs and the City of London. The government has provided information for you to check whether you’re eligible to use the London Help to Buy scheme.

Example for The Rushgroves – typical 2 bed apartment – £580,000
(Figures are calculated using the London Help to Buy Equity Loan values)
Your Deposit – £29,028 (5%)
London Help to Buy Equity Loan – £232,224 (40%)
Your Mortgage – £319,308
Estimated Monthly Cost: £1,432 (Based on 2.5% over 25 years)

Other schemes that are available
In addition to the London Help to Buy equity loan scheme, The Rushgroves also have apartments available with Shared Ownership.

Next Steps
Check out find a home to see if London Help to Buy is available on the homes you are interested in.