About Help to Buy schemes
Help to Buy schemes are run by the government. They are designed to make it more affordable for people to own their own homes. As a Help to Buy agent, we help to deliver two separate schemes:
- Help to Buy: Equity Loan
- Help to Buy: Shared Ownership
About Help to Buy: Equity Loan
Help to Buy: Equity Loan is a government scheme that allows you to borrow a low-interest loan to put towards the cost of purchasing a newly build home.
The equity loan is for the value of up to 20% of the purchase price for homes that are outside of London. For homes inside London, the equity loan is up to 40% of the purchase price.
You add the equity loan to the deposit you have saved and to the amount you need to borrow on a repayment mortgage. Together these cover the total cost of buying your newly built home.
Learn more about Help to Buy: Equity Loan
About Help to Buy: Shared Ownership
Help to Buy: Shared Ownership offers those who can’t afford to buy a home through a traditional mortgage, the opportunity to buy a share of it. This can be between 25%-75% of the home’s value.
You will pay rent, to cover the percentage of the property that you do not own. The more of the property you have a share in, the lower your rental payments will be.
Some shared ownership products are designed for specific groups of people:
Learn more about Help to Buy: Shared Ownership
- Home ownership for people with long-term disabilities(HOLD)
- Older people's shared ownership (OPSO)
- Rent to Buy (offering homes with rents that approximately 20% cheaper than similar properties on the open market – to help you save for a deposit to purchase a home in the future).
Please remember, your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.