The Help to Buy scheme has been introduced in an effort to help both struggling first-time buyers and existing homeowners looking to move up the property ladder. Eligible for new build homes worth up to £437,500 in England (or £300,000 in Wales).
With the Help to Buy Equity Loan, it’s now possible to buy a home with just a 5% deposit.
The government will lend you up to 20% of the cost of your new home. Interest-free for the first five years.
The remaining percentage is covered by a lender, who may provide you access to more competitive mortgage rates.
