Guide to Help to Buy

What is Help to Buy?


  • An equity loan provided by the Government, which only applies to registered new build homes in England.


  • Available to all First Time Buyers with a min 5% deposit. However it must be the only residence.


  • The government will lend a maximum of 40% in London and up to 20% outside of London.


  • Regional property price caps are in place. For London the maximum property value is £600,000.


How does Help to Buy work?

Question 1 Image


1. You’ll work with your local agent to get approval before proceeding with the buying process.


2. Once you’ve found a property, you need to fill out a Property Information Form (PIF). This confirms purchase price, mortgage, deposit, and household income. The PIF must be sent to the local Help to Buy (HTB) agent.


3. Within a few days of submitting the PIF, you’ll then receive an Authority to Proceed.


4. You must then take out a mortgage of at least 25% of the value of the property to purchase.


5. You don’t need to start repaying the loan for 5 years.


6. After 5 years, an interest fee of 1.75% applies to the loan. This fee is not considered part of the repayment of the loan and therefore does not reduce amount owed.


7. Interest rates will rise each year in April by Consumer Price Index (CPI) plus 2%.


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