1 Newberry Lodge

Help to Buy

Help to buy:
Backed by HM Government

The government has created the Help to Buy schemes including Help to Buy: Shared Ownership and Help to Buy: Equity Loan to help people take steps to buy your own home.

The Help to Buy Equity Loan makes it possible to buy a home with just a 5% deposit whilst Help to Buy: Shared Ownership deposits are typically much lower than buying traditionally.

Help to buy


Help to Buy: Equity Loan (2021-2023)*

How does it work?

Help to Buy: Equity Loan (2021-2023)

If you’re a first-time buyer in England, you can apply for a Help to Buy: Equity Loan. This is a loan from the government that you put towards the cost of buying a newly built home.

You can borrow a minimum of 5% and up to a maximum of 20% (40% in London) of the full purchase price of a new-build home. You must buy your home from a homebuilder registered for Help to Buy: Equity Loan. The amount you pay for a home depends on where in England you buy it.

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Who is eligible?

To be eligible for Help to Buy: Equity Loan (2021-2023):

  • you must be a first-time buyer
  • the new build home you buy must be within the relevant regional price cap

You and anyone you’re buying a home with must:

  • not own a home or residential land now or in the past in the UK or abroad
  • not have had any form of sharia mortgage finance.

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HELP TO BUY: Shared Ownership

If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

You could buy a home through Help to Buy: Shared Ownership in England if:

  • your household earns £80,000 a year or less outside London, or your household earns £90,000 a year or less in London
  • you are a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move.

With Help to Buy: Shared Ownership you can buy a newly built home or an existing one through resale programmes from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared Ownership properties are always leasehold.

People with disabilities

Home Ownership for People with Long-Term Disabilities (HOLD) can help you buy any home that’s for sale on a Shared Ownership basis if you have a long-term disability.

You can only apply for HOLD if the properties available through the other home ownership schemes don’t meet your needs, eg you need a ground-floor property.

Older people

You can get help from another home ownership scheme called Older People’s Shared Ownership if you’re aged 55 or over.

It works in the same way as the general Shared Ownership scheme, but you can only buy up to 75% of your home. Once you own 75% you won’t have to pay rent on the remaining share.

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*Help to Buy: Equity Loan, subject to eligibility, terms and conditions