Help to Buy - How it Works

FAQs:

Can I buy any home with Help to Buy?

You can buy any new build home in England up to £600,000. Not available on second homes or buy to let purchases.

Can everyone get Help to Buy?

Yes! Help to Buy is not just for first time buyers, and there is no maximum income cap. If you can get a mortgage, you can get Help to Buy.

Are there any fees to pay?

No. The Help to Buy equity loan is interest free for 5 years. After that you pay a rate of 1.75% rising each year by 1% plus the RPI.

An Example:

The Dymchurch, Westview Point, New Romney:

 

Asking Price: £250,000

Your Deposit: £12,500

Government Contribution: £50,000

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Mortgage: £187,500