< 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

Dining rooms: the forgotten space

Why you need a dining room and how to decorate it   With open plan kitchens flooding the market, you could argue that the traditional dining room is losing its place.  The dining room should however maintain its established place of prestige in your home. Having a separate dining room offers a space which is …

Read more...

Father’s day gift guide

This Sunday is father’s day and if you’re struggling with gift ideas, we have you covered   GLAMPING TRIP A glamping break might be the perfect way you and your dad, or your dad and his partner, can escape the hustle and bustle of city life. The beauty of a glamping pod is that you …

Read more...

Football not taking your fancy this weekend?

Switch play and try something different   It’s Wales vs Switzerland, England vs Croatia, Indoors vs Outdoors: this weekend is set to be another glorious one weather wise and whilst the Euros are drawing you in, the great British summer is luring you out. If the pull of the outdoors is set to triumph, here …

Read more...

The Cool-Proof Guide to Bringing the Temperature down in your Home this Summer

As the hottest months of the year approach, we can look ahead to lots of upcoming warmth   But that’s not to say that the heat doesn’t present some challenges. When it comes to winding down in the evenings, it can be difficult to relax when the temperature doesn’t feel like it’s dropping. So here …

Read more...

Will England be Euro stars?

Southgate’s men looking to end 55 years of hurt     It’s coming home … in a manner of speaking. The 16th edition of football’s European Championships, postponed from last year, kicks off this Friday and, for the first time, games are spread across the continent rather than one host nation, although the business end …

Read more...