Help to Buy

Are you looking to buy your first home? Are you ready to move up the property ladder? Help to Buy could help you.

Help to Buy is a government backed mortgage schemes which help buyers to purchase a new build home in England with as little as a 5% deposit. You will still need to take out a mortgage on the remainder of the property price, but because the loan counts towards your deposit you may be able to take out a mortgage where you might otherwise struggle.

Whilst there were recently two schemes, the Help to Buy Equity Loan scheme (which launched in 2013) closed on 28 February 2021.

The newer Help to Buy Equity Loan (2021-2023) scheme launched in December 2020, for purchases from April 2021, and will run until 2023. This is only available to first time buyers.

Help to Buy Equity Loan (2021 - 2023) scheme.

How it works:

  • You get together your 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 at least a 25% mortgage.
  • The loan is interest free for the first 5 years and then charged thereafter.
  • It applies to new build properties only.

It’s worth knowing too that the government has set regional price limits of 1.5 times of the average first-time buyer price in each region to reduce the amount that needs to be borrowed. The equity loan must be paid off when the property is sold or when the mortgage is paid off. An Embrace Financial Service adviser will be able to explain this in more detail. 

Who it’s for:

  • First time buyers only.
  • It must be your only property.

Help to Buy Affordable New Build Scheme in Scotland

There was Help to Buy (Scotland): Affordable New Build scheme available in Scotland and, if you have a current application under this, it will still be processed but since 5 February 2021, the Scottish government will no longer accepting new applications for this. It will, however, continue to accept applications to the Help to Buy (Scotland): Smaller Developer scheme. 

In addition the Scottish government has a First Home Fund to assist first time buyers in buying a second hand home or new build. The original Fund has been allocated and a new Fund will be available from 1 April 2021 until 31 March 2022 or until the Fund runs out. Payments from the Fund can be up to £25,000 or up to 49% of the property valuation figure or the purchase price - whichever is lower. Further details can be obtained at

Help to Buy in Wales

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.

Please note

Terms and conditions apply to all Help to Buy schemes.

Sources (England) (Scotland) (Wales)

Help to Buy calculator

Use this helpful calculator to provide a guide for help to buy equity loans that may be available, and the amount of mortgage that you would require based on the purchase price of the property, and the deposit that you can afford to put down. Please note this does not guarantee eligibility for a mortgage. 

Help to buy calculator

Mortgage advice

For more information on the Help to Buy scheme or mortgages, book an appointment online with our partners Embrace Financial Services mortgage advisers today or call 0800 056 4508^

^ Calls may be recorded and/or monitored for training and/or data protection purposes.

Book your appointment


Embrace Financial Services usually charges a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £499 to £999 and this will be discussed and agreed with you at the earliest opportunity.