Do I qualify for Help to Buy?

12th March 2020

To qualify for the government’s Help to Buy: Equity Loan scheme, you’ll need to satisfy the following key criteria:

  • You must have at least 5% of the sale price of the property to use as a deposit.
  • The new home must be valued at less than £600,000.
  • It must be a new-build property.
  • It must be your only property.
  • The property cannot be rented out to tenants.
  • When you sell the property, you must repay your equity loan at the same ratio as you borrowed, i.e. if you borrowed 20% as an equity loan, you’ll repay 20% of the sale price.

If you need help understanding Help to Buy or would like to know if you’re eligible for a Help to Buy: Equity Loan, talk to our expert mortgage advisers and we’ll help you make it happen. Call us on 08454 500200 or click here to get in touch.

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May 2020

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