Help to Buy

Help to Buy Equity Loan

You need just a 5% deposit to buy a new Crest Nicholson home and a mortgage of only 75% of the value of your new home. So you pay just 80% of the property price now. With the initiative available on properties in England up to the value of £600,000 and Wales up to £300,000, the dream of home ownership is a reality. Plus you could also qualify for some of the best mortgage rates on the market through high street lenders.

To reflect the current property market in London, the government has increased the upper limit for the equity loan it gives new buyers within *London from 20% to 40%. This means you could buy a new home with a 40% equity loan, 55% mortgage and only 5% deposit on properties up to the value of £600,000.

*Applies to 32 London boroughs and the City of London

Help to Buy ISA

Save up to £200 a month towards your first home with a Help to Buy ISA and the government will boost your savings by 25%.

How it Works

• Help to Buy is available to all new homebuyers, not just first time buyers
• You only need a minimum 5% deposit to qualify
• The Government will lend you up to 20% (40% for properties in *London) of the value of your property through an equity loan
• 100% home ownership
• The loan can be repaid at any time or on the sale of your home
• You will only need to secure up to a 75% (55% for *London properties) mortgage from a bank or building society
• Only available on new build homes
• No interest on the loan amount for the first 5 years
• There is a maximum home purchase of £600,000 in England (including *London properties) and £300,000 in Wales.

*Applies to 32 London boroughs and the City of London

Help to Buy: breaking down the costs

Example: for a home with a £200,000 price tag

With London Help to Buy:

• you’ll need to contribute at least 5% of the property price as a deposit
• the Government will give you a loan for up to 40% of the price
• you’ll need a mortgage of up to 55% to cover the rest