Mortgages Help to Buy

Help to Buy

Help to Buy is a new government backed initiative set up to help first time buyers and those looking to move up the property ladder to purchase a property with as little as 5% deposit.

These loans are not available for buy-to-let landlords or second home owners or for a shared ownership purchase.

To qualify for the scheme, Help to Buy Properties must be:

  1. Priced below £600,000 (In Scotland and Wales the limit is £300,000)
  2. Full ownership
  3. New build

The government equity loan scheme is only available from approved participating house builders, many of which we are aware of.

To be eligible for a help to buy scheme you should be able to:

  • Be able to demonstrate funds or savings to pay for the required deposit which may be between 5% and 55% of the purchase price, legal fees, stamp duty and costs of moving
  • Have  a good credit history
  • Take out a mortgage with a  qualified lender (bank or building society)
  • Remove your name from any other property deed at or prior to completion of your new property if you are a home owner wishing to buy a larger property for your family
  • Over 18 years of age
  • Not planning to sublet
  • Existing properties cannot be rented out to buy a second home through the Help to Buy Scheme has access to over 60 lenders that can assist with help to buy mortgages and guide you through the process.

This Month’s Top Fixed Rate

Fixed rate
Initial rate: 1.35%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.46%

Get This Rate

This Month’s Top Variable Rate

Variable rate
Initial rate: 0.97%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.37%

Get This Rate

Some of this month's top interest rates are listed above; the actual rate will depend on your circumstances. Please note that this information does not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration on 020 7519 4900. The rate displayed may become out of date at short notice.

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