Mortgages

Give your first time buyers a leg up

Our Help to Buy: equity loan scheme is available to first time buyers on new build properties in England only (not currently available in Scotland and Wales).

Key criteria

  • Repayment only - maximum term of 35 years.
  • Available on new build houses/flats in England up to a purchase price of £600,000.
  • Must be your client’s only property.
  • Acceptable sales incentives include stamp duty, estate agent fees and reasonable legal fees (the combined amount of which must not be more than 5% of the purchase price) plus fixtures and fittings. We don't allow builder's cash incentives.
  • Minimum 5% deposit.
  • Maximum 75% LTV.
  • The remainder (up to 20%) of the loan is funded by the government through an equity loan, which is interest-free for the first five years. Interest is charged from year six and the equity loan will run for 25 years (unless your client chooses to pay it back sooner).
  • Our affordability calculator factors in 2% of the equity loan as an expense.

Important information

Your client must be in receipt of the Authority to Proceed (ATP) document from their local Help to Buy agent.

View our Help to Buy schemes page for more information.

 


Affordability calculator

Find out how much your client could borrow.

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Latest rates

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Lending criteria

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