< Back to blog

New Help to Buy Scheme is up and running Posted On 26 January 2021

Homes England has announced that first-time buyers can now apply for the new Help to Buy Equity Loan Scheme

 

The Help to Buy scheme has been around for a while now, however, from the 16th December last year, the new Help to Buy: Equity Loan scheme has been open for applications from first-time buyers looking to purchase a new-build home.

 

With the new scheme, the government lends homebuyers up to 20% (40% in London) of the cost of a newly built home. Customers pay a deposit of 5% or more and arrange a mortgage of 25% or more to make up the rest. The equity loan is interest-free for the first five years.

 

Homebuilders are getting into contract for the new scheme and starting to market their new build homes. Eligible first-time buyers will be able to reserve their homes from now and get the keys to move in from the 1st April.

 

Housing Secretary Rt Hon Robert Jenrick MP said:

 

“The Government is providing more ways to help families onto the housing ladder, and provide that life-changing moment when you get the keys to your own home.

 

“Alongside First Homes, Shared Ownership and our £12bn investment in affordable housing, our new Help to Buy scheme will help thousands more families take their first step into a home of their own.”

 

The new Help to Buy: Equity Loan (2021-2023) helps those who need it most, first-time buyers. There are regional price limits, set at 1.5 times the average first-time buyer price in each region in England.

 

Anyone interested in the new Help to Buy: Equity Loan is encouraged to read the Homebuyers Guide – https://www.gov.uk/government/publications/help-to-buy-equity-loan-buyers-guide

 

< Back to blog

Connect with us

Recent Posts

Spring into action

As the days get longer, and the weather begins to brighten, now is the perfect opportunity to freshen things up in your house. So if you fancy saying goodbye to Winter in style, here are some of our tips on how to make your home Spring ready   Start from the bedroom What better a …

Read more...

Record-breaking day for the property market as sellers spring into action

Rightmove reported the most visits ever in one day to their website last week   Spring has officially started with a bang for the property market! With levels not seen in a decade, April, May and June promise to be a bumper month for sales in England. In fact, Tuesday 23rd March saw the highest …

Read more...

National Walking Day 2021

Get some fresh air today to celebrate National Walking Day 2021   Over the past year, we have all realised the importance of fresh air and exercise of any sort. Going for a walk, whether to get out of the house from working from home, or just to blow off some steam, is a great …

Read more...

Weed it and reap

Time to roll up your sleeves and put in the groundwork   And so here we are. April, the great transitional month where we’ve not quite shaken off winter’s icy grip, but with brighter evenings and significantly warmer days, its hold is definitely weakening. For gardeners, this is where the hard work starts; this month’s …

Read more...