A couple stood outisde looking a their new build home

What is a Help to Buy mortgage?

With a Help to Buy equity loan the government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

You won’t be charged interest on the 20% loan for the first five years of owning your home. Thereafter you are charged an amount equal to 1.75% per annum which increases each year in line with RPI (Retail Prices Index) plus 1%.

The Facts

Help to buy is not suitable for:

  • People looking to buy a second home
  • People looking to buy a property to rent out
  • Anyone looking at resale properties
  • Clients looking to purchase above £600,000
  • Clients who do not meet the criteria and affordability assessment

Help to buy is suitable for:

  • First time buyers and home movers who will own only one property on completion
  • People who are looking to occupy the property as their main residence
  • All new build properties
  • Clients looking to purchase up to £600,000
  • All clients who meet the criteria and affordability assessment
A young couple moving in and unpacking into their new home

How we can help

When you have found your new home, we can reassure you that you are eligible for the scheme. We have assisted hundreds of clients and know the process inside and out. From the initial Help to Buy equity loan qualification and affordability assessment, to knowing which Help to Buy agent your application needs to be sent to and which lenders you can approach for a Help to Buy mortgage.

We will ensure that you meet the developer’s deadlines and have no risk of losing the plot you have reserved. Let us take the stress out of buying your home, guiding you through the journey and keeping you regularly updated.

Get Help to Buy mortgage advice

Your local independent mortgage experts

  • We understand the scheme and have access to all lenders who support it
  • We can assess and tell you if you are suitable for the Help to Buy scheme
  • We complete and submit the application form for the Help to Buy equity loan to the relevant agent

Call us on 01780 480600

Speak to an adviser

Istvan Jozsa

Thank you to Nicola and Choice Mortgages. We moved into our first home. It couldn’t happen without Choice Mortgages!

We can help your find your perfect mortgage

Our mortgage brokers have an unbiased view of the whole market

The River Welland running under a bridge in Stamford, Lincolnshire, England

Based in Stamford, Lincolnshire

Choice Mortgages is an independent mortgage broker; having access to thousands of mortgage and protection products on the market. Our office has been located in Stamford for over 20 years and we have a team of professional advisers with a vast amount of experience.

We offer a free no obligation consultation and help you find the most suitable solution. Understanding lenders criteria and how you are eligible for a mortgage is paramount.

We provide a dedicated personal service and work closely with you every step of the way; organising the paperwork and taking care of the entire application process, making the transaction far less stressful for you. We know lives are busy and we can alleviate the time pressure, by offering telephone or face-to-face appointments.

About Choice Mortgages