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How It Worked
Help to Buy: Equity Loan was a government scheme designed to help first-time buyers onto the property ladder with a small deposit. The government lent you up to 20% of the property value (40% in London), meaning you only needed a 75% mortgage alongside your 5% deposit.
The equity loan was interest-free for the first five years. After that, interest started at 1.75% and increased each year. The loan had to be repaid either when the property was sold, the mortgage was paid off, or the scheme term ended.
The scheme closed to new applicants in March 2023, but if you or a seller has an existing Help to Buy loan, we can advise on repayment and refinancing options.
Current Alternatives
Mortgage Guarantee Scheme
Government-backed 95% LTV mortgages available from major lenders. Just 5% deposit required on properties up to £600,000.
Shared Ownership
Buy a 25–75% share of a property and pay subsidised rent on the rest. Lower deposits and monthly costs.
First Homes Scheme
Qualifying first-time buyers can purchase new-build homes at a 30–50% discount to market value in selected areas.
Lifetime ISA
Save up to £4,000/year and receive a 25% government bonus (up to £1,000/year) towards your first home deposit.
Existing Help to Buy Loan?
If you currently have a Help to Buy equity loan and your interest-free period is ending (or you want to repay it early), we can advise on your options — including remortgaging to repay the government stake. Call us for a free, no-obligation review.
Get free adviceScheme closed but still have questions? Call us on 0161 000 0000 for personalised advice.
With Help to Buy closed, there are still great options available. Book a free 30-minute call and we'll map out the best path to your first home.
Book Free ConsultationYour home may be repossessed if you do not keep up repayments on a mortgage.