How does the Help to Buy equity loan work?
With the Help to Buy equity loan scheme, you’ll need as little as 5% deposit and 80% mortgage to buy a new home. This could make your mortgage repayments more affordable and is exclusively available on new homes.
With the Help to Buy equity loan scheme:
- The Government will lend you up to 15% of the value of your new build home via an equity loan.
- You may only need to secure up to a 80% mortgage
- The Help to Buy equity loan can be repaid at any time or on the sale of your home