Help To Buy



Help to Buy for first-time buyers

If you have managed to save a deposit of at least 5%, you might be able to use the government’s Help to Buy equity scheme.

Under this scheme, the government will pay a further loan of up to 20% - or 40% if you are in London - to put towards a new-build home. The new scheme from 1st April 2021 is open to first-time buyers only.

The loan is interest-free for the first five years, and from year six, you will be charged 1.75% interest on the loan amount. The amount of interest you pay will then rise with inflation, and 1% will be added on top too.  

The government is also offering a Help to Buy ISA through certain banks, building societies and credit unions, and it is designed for first-time buyers. Depending on how much you pay into your ISA, you could get a savings top up of between £400 and £3,000.

The new Help to Buy Equity Loan scheme open to first-time buyers only, will be available for two-years from 1 April 2021.

Unlike the previous scheme, there will be a price cap per region on eligible homes at follows:

  • North East: £186,100
  • North West: £224,400
  • Yorkshire and The Humber: £228,100
  • East Midlands: £261,900
  • West Midlands: £255,600
  • East of England: £407,400
  • London: £600,000
  • South East: £437,600
  • South West: £349,000