Help to Buy

What is Help to Buy?

Help to Buy is a two-part government scheme aimed at helping people onto the housing ladder or to move up it.

The government hopes its Help to Buy scheme will assist both first-time buyers and existing homeowners looking to climb the housing ladder. It is specifically designed for those who can afford mortgage repayments but are struggling to raise a deposit.  

The Help to Buy scheme has been rolled out in two stages.  The first part of the scheme has been available since April 2013 and offers equity loans.  The second part was launched in October 2013 and offers mortgage guarantees. The mortgage guarantee scheme is due to run until 31 December 2016, while the equity loan scheme (which was originally due to run only until April 2016) has now been extended until 2020.

Both elements of the scheme offer help with buying a house for prospective homeowners who have a deposit of at least 5 per cent, and both are available for homes worth up to £600,000 (though not in conjunction with each other). However, there are crucial differences between the two parts. Find out more by clicking on the left-hand menu.