Getting onto the property ladder has never been more difficult. But the Government’s Help to Buy scheme is here to help.

With Help to Buy, you can buy your own home with just a 5% deposit and a 75% mortgage. The Government lends you up to 20% of the cost of your newly built home, so you’ll need a 75% mortgage to make up the remainder of the purchase price. The Help to Buy Equity Loan is interest-free for 5 years and can be repaid at any time or on the sale of the home.

The 20% equity loan is interest free for 5 years’ and in year 6 a fee of 1.75% of the loan is charged, paid monthly by direct debit. The fee increases annually by the Retail Price Index (RPI) + 1 per cent. The loan can be repaid at any time at an amount equal to

How it works

20% of the market value, whether the property value has increased or decreased. Partial repayments are allowable at a minimum amount of 10% of the market value at the time of repayment. The loan must be repaid on the sale of the property or after 25 years, whichever comes first.