Build Vantage

Help to buy scheme

Government backed Help To Buy gives you 2 options to make a purchase:

HELP TO BUY OPTION 1 – EQUITY LOAN

  • You only need a 5% deposit
  • Available for new build homes
  • Available to first-time buyers and existing homeowners (who have sold their home)
  • The government will lend you up to 20% of the value of the new property (40% in London)
  • You will own 100% of your home
  • Equity loan is interest free for 5 years

HELP TO BUY OPTION 2 – ISA

  • Raise the deposit on your first home faster
  • Save up to £200 per month and the government will add an extra 25% – a £50 bonus for every £200 you save
  • To a maximum amount of £3,000 per person

HOW DO I PAY OFF THE GOVERNMENT LOAN?

You won’t be charged loan fees for the first 5 years of owning your home. In the 6th year, you’ll be charged a fee of 1.75% of the loan’s value. After this, the fee will increase every year for up to 20 years. The increase is worked out by using the Retail Prices Index plus 1%.

EXAMPLE BASED ON A £200K PROPERTY

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Help to buy

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