Help To Buy

The government has several schemes to support house purchasers, such as Help to Buy. The Help to Buy mortgage guarantee scheme helps you buy a home with a deposit of 5% of the purchase price. It’s open to both first-time buyers and home movers for new-build and older homes in the UK, with a purchase price of up to £600,000. The guarantee is provided to your mortgage lender by the government – not to you.

The government has put in place several schemes to support house purchasers, such as Help to Buy. The Help to Buy mortgage guarantee scheme helps you buy a home with a deposit of 5% of the purchase price. It’s open to both first-time buyers and home movers for new-build and older homes in the UK, with a purchase price of up to £600,000. The guarantee is provided to your mortgage lender by the government – not to you.

Eligibility

To qualify for a mortgage guarantee, the home you want to buy must:

  • Have a purchase price of £600,000 or less.
  • Not be a shared ownership or shared equity purchase.
  • Not be a second home.
  • Not be rented out after you buy it.

The property doesn’t have to be newly built, and you don’t have to be a first-time buyer. There’s also no limit on your level of income. However, you can’t use Help to Buy with any other publicly funded mortgage scheme, or an interest-only mortgage.

For details of other government home ownership schemes, please visit this link.

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We care passionately about making financial advice accessible to all, in an easy to understand and friendly manner. We aspire to raise standards in all areas of financial advice and hope to challenge any negative industry perception by offering a genuine and trustworthy service.

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