Help to Buy FAQs

We’ve put together answers to some of the most frequently asked questions around Help to Buy.

Frequently asked questions

Who is eligible for Help to Buy?

The current Help to Buy Equity Loan scheme is available to both first time buyers and existing home owners. You will need a minimum 5% deposit to qualify. There is no maximum household income to qualify for the scheme, and you can purchase a property with a maximum value of £600,000 in England, £300,000 in Wales and £200,000 in Scotland.

The Help to Buy Equity Loan scheme is exclusive to new-build homes only.

How does Help to Buy Equity Loan work?

With Help to Buy Equity Loan, you only need a minimum deposit of 5% of the value of your new home. The Government lends you an equity loan of up to 20% of the value of your home (15% in Scotland, 40% in London), so you’ll only need a 75% mortgage (80% in Scotland, 55% in London).


Where is the Help to Buy scheme available?

The Help to Buy Equity Loan scheme is available in England, Scotland and Wales. The maximum value of the property you can purchase with the scheme differs depending on where in the UK you live. In England, you can currently buy a property up to a value of £600,000. In Wales, it is limited to £300,000 and in Scotland the limit is £200,000.

How long will the Help to Buy scheme run for?

The current popular Help to Buy Equity Loan scheme is available until 2021. 

Is Help to Buy a shared ownership scheme?

No. With the Help to Buy Equity Loan, you purchase 100% of your home and legally own 100% of your home.

Can I pay off the equity loan before the end of the first 5 years?

Yes. Once you have purchased your home, you can choose at any time to make voluntary part repayments or a full repayment, based on the market value at that time. The minimum voluntary repayment is 10% of the market value at that time.