If you're buying in England ask about the HM Government-backed Help to Buy scheme.
Available to first-time buyers and people already on the property ladder, this scheme requires just a 5% deposit and a repayment mortgage of up to 75% of the value of the property. The remaining 20% of the purchase price is lent to you by HM Government in the form of an equity loan. You won’t be charged interest on the 20% equity loan for the first 5 years of owning your home.
Use our calculator guide to find out how Help to Buy: Equity Loan could help you buy a new home with just a 5% deposit.
How much deposit do you have?
The Government could lend you up to 20 of the home value.
Search for Help to Buy: Equity Loan properties* with your new budget of . Enter your location and then look for eligible plots
Sorry, the Help to Buy: Equity Loan scheme is not currently available in Wales.You can search for homes in this region without Help to Buy: Equity Loan
Search for Help to Buy: Equity Loan properties* with your new budget of .
Where are the schemes available?
The HM Government backed Help to Buy scheme is available across all Charles Church developments in England up to £600,000.
Can you clarify the equity loan element?
In England, HM Government will provide you with a Help to Buy: Equity Loan up to 20% value of the full purchase price of the property. This loan is interest-free for the first five years. From year six you will be required to pay an interest fee of 1.75% of the amount of your Help to Buy: Equity Loan, rising each year after that by the increase (if any) in the Retail Prices Index (RPI) plus 1%.
What are the repayment terms of equity loans under the Help to Buy scheme in England
Under this scheme you can repay the equity loan any time within the first 25 years (or the term of the mortgage), or when you sell the property. In addition, it is also possible to repay part of the equity loan subject to certain limits and criteria.
Are equity loans under the Help to Buy scheme in England available on pre-owned homes?
No - this scheme is only available on new-build homes like those built by Charles Church.
Can I use this scheme if I already own a home?
Yes - this scheme is available to both first-time buyers and existing homeowners.
Are equity loans under the Help to Buy scheme in England available under a buy-to-let option?
No - this scheme is only available to purchasers using the property as their main residence.
What types of mortgage are available with equity loans under the Help to Buy scheme?
You must arrange repayment mortgages with this scheme.
Where can I get independent financial advice?
Charles Church can put you in touch with a list of recommended independent financial advisers who can assist you every step of the way.
The Help to Buy: Equity Loan scheme is available on all plots in England, with a full purchase price up to £600,000, subject to status. Eligible applicants will be offered an equity loan of up to 20% of the purchase price at the open market value. Applicants are required to fund at least 80% of the purchase price with a conventional main mortgage and minimum of 5% deposit. For the first five years there is no interest charged on the equity loan. At the start of year six, 1.75% interest is payable on the equity loan, which rises annually by RPI inflation plus 1%. The equity loan is provided by the Government's Homes and Communities Agency (trading as Homes England), and held as a second charge on the Help to Buy home. Terms and conditions apply. Applicants should seek independent financial advice, and get information and guidance on applying for a Help to Buy: Equity Loan at www.helptobuy.gov.uk
**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. For full details on the Help to Buy: Equity Loan scheme please visit www.helptobuy.gov.uk
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Site layouts are intended for illustrative purposes only, and may be subject to change, for example, in response to market demand, ground conditions or technical and planning reasons. Trees, planting and public open space shown are indicative, actual numbers and positions may vary. Site plans does not form any part of a warranty or contract. Further information is available from a site sales advisor.
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For full details on the HM Government-backed Help to Buy: Equity Loan scheme please visit www.helptobuy.gov.uk.
Every effort has been taken to ensure the information provided here is accurate however, particulars regarding local amenities and their distances are for general guidance only. Where schools and other educational facilities are mentioned they are intended to highlight their distance from the development and don’t represent a guarantee of admission or eligibility. Travel times and distances assume journeys are made by car. Times are likely to vary according to travel conditions and time of day.
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