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Help to Buy

Help to Buy Equity Loan

Purchase a new home using Government-backed Help to Buy scheme

Help to Buy available across England & Wales

Help to Buy scheme
Help to Buy scheme example

Help to Buy is a Government-backed initiative created to help home buyers into a new-build home with a smaller deposit.

To purchase a new Charles Church home you will need just a 5% deposit and a mortgage of up to 75% of the value of the property. The remainder is provided by a Government equity loan. In England & Wales this is interest free for the first 5 year which could make your monthly mortgage repayments lower.

Whether you’re looking to move up the property ladder or a first-time buyer the Help to Buy scheme is available on all our homes in England up to £600,00 and homes up to £300,000 in Wales.


Help to Buy key points

  • You will only need a minimum 5% deposit
  • Help to Buy is available to all types of home buyers - existing homeowners can take advantage of our Home Change scheme
  • Available on all Charles Church homes in England up to £600,000 and up to £300,000 in Wales
  • Help to Buy Equity Loan is only available on new-build properties
  • No household annual income limit
  • The Government will lend you up to 20% of the value of your property through an equity loan. In England & Wales, this is interest free for the first 5 years. This can be repaid at any time or on the sale of your home
  • You will only need to secure up to a 75% mortgage – qualifying for some of the best rates available
  • 100% home ownership

Help to Buy calculator

Use our calculator guide to find out how Help to Buy could increase your budget, and help you move house with just a 5% deposit.

Are you looking for a property in:
  • Adjust the slider or enter the amount of deposit you have available to purchase a home. The higher the deposit amount, the higher your Help to Buy budget will be. This calculator assumes that the minimum allowable deposit for ‘Help to Buy’ is 5%.

    Your deposit

    How much deposit do you have?

    x Please alter your amount to between the minimum and maximum figures.
    Max £30k Min £4.848k
    £
  • The Government could lend you up to 20 of the value of your property through an equity loan, which will be interest free for the first 5 years and can be repaid at any time or on the sale of your home. The Government could lend you up to 20 of the value of your property through an equity loan, which will be interest free for the term of the loan and can be repaid at any time or on the sale of your home.

    Help to Buy equity loan

    The Government could lend you up to 20 of the home value.

    x Please alter your amount to between the minimum and maximum figures.
    Max £120k Min £19.39k
    £
  • You will only need to secure up to a 75 mortgage – qualifying for some of the best rates available.

    Mortgage

    Mortgage required

    x Please alter your amount to between the minimum and maximum figures.
    Max £450k Min £72.712k
    £

Your results

  • Your deposit
  • Help to Buy loan
  • Your mortgage

Your results

  • £5,000Your deposit (5%)
  • £19,500Help to Buy loan (20%)
  • £73,000Your mortgage (75%)
Your budget with Help to Buy £96,950

 

Already a homeowner?

We can use all our expertise and contacts to help you sell your current home with our Home Change scheme**.

Help to Buy FAQs

Where is Help to Buy available?
Help to Buy is available across all Charles Church developments in England on homes up £600,000 and up £300,000 on homes in Wales.

Can you clarify the equity loan element?
The Government will provide you with an equity loan up to 20% value of the property. In England & Wales, this loan is interest free for the first five years. From year six a fee of 1.75% is payable and will rise annually by RPI inflation plus 1%.

What are the repayment terms of the equity loan?
You can repay the loan any time within the first 25 years (or the terms of the mortgage), or when you sell the property.

Is Help to Buy available on pre-owned homes?
The scheme is only available on new-build homes like those built by Charles Church.

Can I use Help to Buy if I already own a home?
The Help to Buy scheme is available to both first-time buyers and existing homeowners. Our Home Change scheme can help sell your property for you.

Is Help to Buy available as a buy-to-let option?
The scheme is only available to purchasers using the property as their main residence.

What types of mortgage are available with Help to Buy?
Repayment mortgages are the only option with this scheme.

Where can I get financial advice from?
Charles Church can put you in touch with a list of recommended financial advisers who can assist you every step of the way.



Help to Buy terms and conditions

Help to Buy (England)
The Help to Buy scheme has specific terms and conditions and is subject to affordability criteria as defined by the Homes and Communities Agency. Help to Buy equity scheme is available on all plots in England, with a full purchase price up to £600,000, subject to status, terms and conditions apply. Help to Buy eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). The registered provider will hold the second charge on the property. Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Applicants must obtain their conventional mortgage from a qualified lending institution (e.g. a bank or building society). For the first five years there is no fee charged on the equity loan component. At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be uplifted by RPI +1% p.a.

Help to Buy (Wales)
The Help to Buy (Wales) scheme has specific terms and conditions and is subject to affordability criteria as defined by the Welsh Government. Help to Buy equity scheme is available on all plots in Wales, with a full purchase price up to £300,000, subject to status, terms and conditions apply. Help to Buy (Wales) eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). The registered provider will hold the second charge on the property. Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Applicants must obtain their conventional mortgage from a qualified lending institution (e.g. a bank or building society). For the first five years there is no fee charged on the equity loan component. At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be uplifted by RPI +1% p.a.

**Available on selected plots subject to status. Terms and conditions apply.

A professional legal adviser is required to carry out the legal formalities of buying the home and to represent your interests. Charles Church can provide you with a list of recommended solicitors and/or financial advisers as necessary. Charles Church cannot advise you on a mortgage. The Help to Buy scheme is subject to availability and may be withdrawn at any time without notice. Not to be used in conjunction with any other purchase assistance scheme, offer or promotion. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE, YOUR EQUITY LOAN OR OTHER DEBT SECURED ON IT. Full details available on request.

Help to Buy related links: