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Help to Buy is a government backed mortgage scheme which helps first time buyers and existing homeowners purchase a home with as little as 5% deposit. The home you want to buy must be newly built with a price of up to £600,000 (regional caps apply)
With a Help to Buy equity loan the Government lends you up to 40% of the cost of your newly built home, Try our calculator to give you an indication of the amount of mortgage that you will require based on your property price.
Help to Buy equity loan
Help to Buy: Equity Loan (2021-2023)
Help to Buy London is a government scheme designed to help first time buyers who have never owned a property/land before to advance up the property ladder in London.
The property you buy must:
be a new build
have a purchase price of up to £600,000, subject to regional price caps
be the only one you own
not be sub-let or rented out after you buy it
How does it work?
Help to Buy is an equity loan from the government up to 40% of the value of a property, provided you have a deposit of 5% you will only need a mortgage of 55% of your new home.
What properties can I buy with Help to Buy London?
New build properties within the 32 boroughs of London up to the value of £600,000 are eligible for the Help to Buy London scheme.
When getting a mortgage you will be able to borrow up to a maximum of 4.5 times your salary.