How does it work?
Help to Buy offers up to a maximum of 20% of the full purchase price through an equity loan funded by the Government. The remaining 80% is then made up through a 5% deposit contribution and a 75% mortgage from a bank or building society.
The equity loan is available on new build properties up to a maximum value of £600,000 in England, and is interest-free for five years – it can be paid back at any time or upon the sale of your home. For more information on Help to Buy, click here to visit their website.