< 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

Earth Day 2021: How to make your home more environmentally friendly

Join in with millions of people around the world and make your home more climate clean this Earth Day   This year celebrates the 51st anniversary of Earth Day. Originally conceived in 1970 by peace activist John McConnell as a day of education about how to look after our Earth, in 1990, Earth Day went …

Read more...

Cheers… and chairs! Garden furniture to enhance your outdoor space

Whether you’re looking for something practical or a splash of style, there’s lots of choice out there   The days are getting warmer, the nights are getting shorter and the lure of a cold beer in the garden on a balmy summer evening grows ever stronger. Unless you have a severe case of patio embarrassment …

Read more...

5% mortgage scheme launched

The government guaranteed, 5% mortgage deposit scheme has launched this week   High Street lenders are now offering mortgages with just a 5% deposit under a new government guaranteed scheme that launched yesterday. The policy, which was announced in the Budget, is designed to help more first-time buyers secure a home. The scheme is similar …

Read more...

Wallpaper know-how

Our top tips when it comes to wallpapering   Wallpapering. A word that strikes fear into a lot of DIYers, however, with our handy guide you too can become a wallpapering pro.   The Basics First things first, always go for a high-quality wallpaper. If you’re thinking of wallpapering a room, then you are thinking …

Read more...

Public urged to use walk-in centre as shoppers come out in force

Symptom-free test site set to open in Swaffham   The next step on the Government’s roadmap out of Coronavirus restrictions was greeted by sunny weather and a rush of shoppers into town centres across Norfolk. This week’s milestone in the easing of lockdown meant shops selling non-essential items, pubs, gyms and hairdressers could welcome customers …

Read more...