Help to Buy FAQs

Help to Buy was a government scheme that provided first time buyers with an equity loan in addition to your mortgage, that was interest free for the first 5 years. If you were able to put down a 5% deposit and take out a mortgage of 75%, Help to Buy would provide you with up to 20% as an equity loan to top you up.

Within London, the scheme required a 5% deposit on the property but you would be provided with up to 40% equity loan, leaving you with just 55% of the value of the property to obtain a mortgage for.

The Help to Buy Equity Loan scheme closed to new applications on Monday 31st October 2022, and officially ended on Friday 31st March 2023. Homes England have confirmed there are currently no plans to replace the equity loan with another scheme.