Help to Buy

Help to Buy: Equity Loan

You need a 5% deposit to buy a new Crest Nicholson home and a mortgage of only 75% of the value of your new home, with the remainder funded by a 20% equity loan from the Government. With the initiative available on properties in England up to the value of £600,000 the dream of home ownership is a reality.

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%. So for every £200 you save, you'll receive a Government bonus of £50.

How it works

• Help to Buy is available to all new homebuyers, not just first time buyers
• You only need a minimum 5% deposit
• 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

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