Help to Buy

Help to Buy

95% mortgages available.  Only 5% deposit required.

The government launched Help to Buy to assist buyers with small deposits.

The first part was Help to Buy Equity Loan where the government lends you up to 20% of the cost of the new build home.  This means you only need a 5% deposit and a 75% mortgage to make up the difference.  There are no loan fees charged on the equity loan for the first 5 years.

The second part of the scheme, Help to Buy 2, or Help to Buy Mortgage Guarantee.  A mortgage under this scheme works exactly the same way as any other mortgage except the scheme offers lenders the opportunity to purchase a guarantee on the loan.  Because of this lenders are able to offer higher loan to value mortgages, up to 95% of the property value.  You would still be responsible for all of the mortgage repayments so if you have a 5% deposit you would need to take out and repay a 95% mortgage.

Please contact us to discuss Help to Buy.