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Help to Buy
The Help to Buy scheme is designed to help first-time buyers purchase an affordable new build. Find out all you need to know and how you can benefit with WhatHouse?
What is Help to Buy?
Available only on brand new homes, Goverments "Help to Buy scheme" gives financial assistance to new home buyers by reducing the deposit required down to 5%.
Now used as an ‘umbrella’ brand for a variety of government homebuying schemes, the main part of this initiative provides financial assistance to buyers in the form of an equity loan, a lump sum added to the purchaser’s deposit to reduce the size of the mortgage they need. This loan is interest-free for five years and only needs to be repaid when the property is sold. Hundreds of housebuilding companies have signed up to the scheme, and there are just a few eligibility criteria for potential buyers to meet in order to qualify for it.

The latest statistics from the government show that over 100,000 homes were purchased with this equity loan from the launch of the scheme in April 2013 to the end of September 2016, with 80% of them purchased by first-time buyers.
young couple looking at new homes

view of London Thames
Help to Buy London
This part of the scheme, only available in Greater London, varies slightly from the national equity loan scheme available in other areas of the UK to reflect the generally higher property prices in the capital. With an equity loan of 40% is given once the buyer puts down an initial deposit of 5%, meaning they only need to find a mortgage for 55% of the property price.

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Help to Buy England
The scheme in England is available to new build homes costing up to £600,000. The buyer needs a 5% deposit on the property, and receives a 20% equity loan from the government, so the purchaser has to find a mortgage for the remaining 75% of the property price.

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aerial view of a town in England

View of Cardiff
Help to Buy Wales
Help to Buy Wales (Cymorth i Brynu Cymru) works along the same principles of the scheme for England, but the property price limit is £300,000. The buyer needs to provide a 5% deposit and will receive a 20% equity loan from the government, with a mortgage of 75% of the property price needed to complete the purchase.

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Help to Buy Scotland
The Scottish strand of the scheme was launched in March 2016. It is set to run for just three years and has some variations to its counterpart in England, including an annually reducing price threshold (£230,000 for purchases to March 2017, then £200,000 until March 2018, then £175,000 until March 2019) and an equity loan of 15% of the property price.

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Help to Buy Scotland

Help to Buy ISA
Help to Buy ISA
For first-time buyers, saving for a deposit can be difficult. The ISA is a useful saving tool that will give you that extra boost as the government will add back the tax on your contributions, a bonus of 25% on what you have saved. This means savers will receive up to £3,000 as a bonus and earn interest on their savings.

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The role of a Help to Buy agent
An agent is an organisation to guide you through the whole process of buying a home with the scheme in the region you are buying in. Your local agent will explain all the options available to you as well as explaining the affordability and eligibility criteria. The housebuilder providing the home you want to buy, will put you in touch with the agent when you need it.

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Help to Buy guide
Help to Buy guide
Read all about the Help to Buy scheme in our free, easy-to-understand guide.

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Help to Buy homes by area
How does it work?
What's best for me, equity loan or the mortgage guarantee scheme?
Can I buy a home off-plan?
Do I have to pay stamp duty?
Are there any restrictions on the type of property I can purchase?
Can I rent out my Help to Buy home once its bought?
Case Studies
Simon and Amy at Philip Taylor Drive (Bloor)
24 April 2017
Simon Taylor and partner Amy Kay have moved into their first home at Bloor's Saxon Gate in Crewe and the street is named after Simon's war hero g...

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Louise Hutchins in her new home (Redrow)
27 March 2017
Louise Hutchins moved from renting in London to buying a Redrow home near Cambridge because more new home options were available within her budge...

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Chloe and Callum in their new home
9 March 2017
Focused saving enabled Chloe Johnstone, 18 and Callum Rey, 22 to buy  their dream home at Miller Homes Stretton Glen development in Leicestershir...

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Recent News
Mortgage lending remains stable
26 April 2017
Experts believe that both the housing and mortgage markets are set for a period of stability, as uncertainty about the economic outlook post-Brex...

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Station View (Taylor Wimpey)
24 April 2017
Guildford is a town right in the heart of Surrey, and is an area that is very popular with commuters...

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The Hedgerows (Redrow Homes)
21 April 2017
The WhatHouse? team picks its current favourites from the selection of new homes for sale in the North West of England...

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