The Guildelines

  • First time buyer or existing homeowners

  • Available on properties up to the value of £600,000

  • Equity Loan available on new builds only

  • Mortgage Guarantee available on new builds and pre-owned properties

  • No limit on income

  • Must be your only property

  • Cannot be a buy-to-let or sub-let

  • Cannot be used in conjunction with any other housing or mortgage scheme

Help to buy

Am I Eligable?

Both parts of the Help to Buy scheme are available to exisitng homeowners and also first time buyers. The Help to Buy scheme is aimed at people with a small deposit to get on the property ladder or move up a rung.

There is no income limit on how much you can earn to qualify for the scheme. However you can only purchase a property up to the value of £600,000.

Only a 5% deposit is required for either part of the scheme. The Equity Loan part of the Help to Buy scheme is only available on newly build homes. The Mortgage Guarantee part of the scheme is available on newly build homes and pre-owned properties. At the time you buy the house you must not own any other property, you will not be able to rent out this property or enter a part exchange on your existing home.

The Mortgage Guarantee part of the scheme works the same as applying for any other mortgage, you will need to pass all the usual affordability checks and not have a bad payment history. The mortgage must be a repayment mortgage, the scheme excludes interest only, offset and guarantor mortgages.

There is not additional payment to the governement to use the scheme and it is available to individuals but not to a company.

If you want to apply for the Equity Loan part of Help to Buy then ask the developer if they are part of the scheme or look out for the help to buy logo (on the left).

For the mortgage guarantee part of the scheme enquire with your mortgage broker or lender regarding what lenders are part of the scheme.

For a conveyancing quote or more information please get in touch, we look forward to helping you.