Making your next steps on the Help to Buy journey easier.

We have helped over 10,000 customers.

The next step on your Help to Buy journey should be with us

If you bought your home with a Help To Buy equity loan, we have a wealth of experience to help guide you on what to do next. Since Help to Buy was launched in April 2013 we have reviewed thousands of Help to Buy mortgages for our customers.
We’ll review your circumstances and help you decide whether to retain your Help To Buy equity loan a while longer, or repay it in part or in full.

So how does the help to buy scheme work?

You will need to put down as little as a 5% deposit of the purchase price of your chosen new build home. The government will then lend you up to a further 20% of the property purchase price interest-free for the first five years. You’ll then only need a mortgage for the balance remaining, generally between 75%-85% of the property price. The scheme is set out to reduce the amount you have to pay each month at the start of your mortgage, allowing you to repay the loan element at any time (without being subject to penalty) or wait until you sell your home. To ensure you make your home purchase on a sound basis, your main lender’s mortgage must be a repayment loan with interest and capital repaid every month and your mortgage is valid through to legal completion. You are permitted to use funding from public sector bodies such as your council or Housing Association to purchase your home, provided the body is satisfied their funding is compatible with the Help to Buy scheme and the purchase is good value for money.

Homes eligible for purchase

Under Construction

Homes eligible for purchase with a Help to Buy may still be under construction, as they are normally on new developments. Even if you are unable to move in at the time of purchase, you will be expected to arrange a mortgage and exchange contracts within one month of paying your reservation fee. The housebuilder who is building your home is the first point of contact.

Did you know you can

own your own home

with just a 5% deposit

What is the Scottish Equity Loan scheme?

The Scottish Government has announced the Help to Buy scheme will be extended until March 2022. Help to Buy (Scotland) is a shared equity scheme aimed at helping both first-time buyers and home movers buy their new build home.
Help to Buy (Scotland) for the Smaller Developers New Build Scheme is available through participating Housebuilders. The agents administering the scheme will identify which scheme your application will be processed under.
You must have a deposit of at least 5%. Your deposit and mortgage must cover a combined minimum of 85% of the purchase price. The Scottish Government will as a result take a stake of up to 15% of the purchase price holding security over this proportion till you own your home outright. This cannot be an interest-only first mortgage.
The maximum threshold for the value of the property depends on what year your application is completed. This scheme is only available to those who are unable to afford to purchase the property without the Government purchasing an equity share in the property. The schemes are not open to single people requiring a mortgage more than 4.5 times their income, or couples for more than 3.5 times their joint income.
There are two other shared equity schemes in Scotland, which were created for first-time buyers only, under its LIFT (Low-cost Initiative for First-Time Buyers) programme.

Did you know you can

own your own home

with just a 5% deposit

What is the Scottish Equity Loan scheme?

The Scottish Government has announced the Help to Buy scheme will be extended until March 2022. Help to Buy (Scotland) is a shared equity scheme aimed at helping both first-time buyers and home movers buy their new build home.
Help to Buy (Scotland) for the Smaller Developers New Build Scheme is available through participating Housebuilders. The agents administering the scheme will identify which scheme your application will be processed under.
You must have a deposit of at least 5%. Your deposit and mortgage must cover a combined minimum of 85% of the purchase price. The Scottish Government will as a result take a stake of up to 15% of the purchase price holding security over this proportion till you own your home outright. This cannot be an interest-only first mortgage.
The maximum threshold for the value of the property depends on what year your application is completed. This scheme is only available to those who are unable to afford to purchase the property without the Government purchasing an equity share in the property. The schemes are not open to single people requiring a mortgage more than 4.5 times their income, or couples for more than 3.5 times their joint income.
There are two other shared equity schemes in Scotland, which were created for first-time buyers only, under its LIFT (Low-cost Initiative for First-Time Buyers) programme.

How does it work?

This government backed scheme is designed to help customers, who cannot raise large deposits, fulfil their property ambitions. Unfortunately you cannot part-exchange your current property and Buy-to-let investors are excluded from benefiting from this option. However, if you are eligible, the Scottish Government will help customers to purchase the property by taking an equity stake of no more than 15% of the value of a new build property worth anything up to a maximum purchase price of £200,000.

Help to Buy is easier with our 4 steps

Would you like to find out more about Help to Buy?

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Retaining Help to Buy

Need guidance on what to do next with your Help to Buy loan?

Repaying Help to Buy

Are you confused about repaying your Help to Buy equity loan?