Help to Buy - not just for first time buyers

March 16, 2017Tags: help to buy | buying | buy property

Help to buy logoHelp to Buy is often associated with first time buyers but did you know that it can also benefit those buyers looking to move up the ladder?

If you're thinking of making your next move, Your Move can help you when it comes to selling your current home, finding a new home and even with your mortgage.

Before making the decision to purchase your next home and move up the ladder you should consider the reasons why you are moving and also whether you can afford to do so. If it has been a while since you last had to apply for a mortgage, following the Mortgage Market Review new mortgage affordability checks came into effect in April 2014. If you are applying for a mortgage, you will now need to go through these checks. However, there is also more help out there for those looking to buy including various schemes such as Shared Ownership and Help to Buy.

If you are unsure as to what you may be able to borrow and what equity you may have available, you can book a free initial appointment with a Your Move mortgage advisor who will be able to help you through the process.

What do you need to know about Help to Buy?

How it works:

  • You get together a 5% deposit
  • The government lends you up to 20% of the property value (up to 40% if buying within Greater London)
  • You'll need to secure up to a 75% mortgage
  • The loan is interest free for the first 5 years and then interest is charged thereafter

Who is it for:

  • First time buyers and existing homeowners looking to purchase a new build are eligible
  • It must be your only property

Maximum property prices:

  • England - £600,000
  • Wales - £300,000 (Help to Buy – Wales is a shared equity loan scheme designed to help first time buyers and existing home owners in Wales purchase a new-build home up to a value of £300,000, with as little as a 5% deposit. The Welsh Government will fund a shared equity loan for up to 20% of the purchase price.)
  • Scotland - £230,000 (In Scotland Help to Buy only applies to those who are buying a new build home from participating home builders. The scheme is open to first time buyers and existing homeowners. Participating lenders are likely to require you to have a deposit of 5% of the property price. The Scottish Government will help eligible buyers by taking an equity stake of up to 15% of the purchase price. )

Please note

Terms and conditions apply to all Help to Buy schemes. 

Sources: UK | England | Scotland Wales

*Please be aware that by clicking onto the above links you are leaving the Your Move website. Please note that neither Your Move or First Complete Ltd are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

How can Your Move help?

Still not clear on how Help to Buy works? Not sure if it’s right for you? We’re ready to explain the mortgage schemes in an easily understood, straightforward way.  At the same time you’ll benefit from our helpful financial services.

Find out more about Help to Buy from one of our Financial Consultants by calling free on 0800 056 4508^, or book a mortgage appointment online.





Further reading:


This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.

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