Help to Buy
Closed equity loan scheme for new-build first-time buyers (closed March 2023).
Full definition
The Help to Buy Equity Loan scheme provided an equity loan from the government of up to 20% (40% in London) toward a new-build property purchase. The scheme closed to new applications on 31 March 2023. Existing borrowers continue under original terms. The Mortgage Guarantee Scheme has become the main replacement for high-LTV first-time buyer support.
How this affects you
Whether help to buy is relevant to your mortgage depends on your circumstances — lender, product, deposit, employment, credit profile, and stage of application. An FCA-authorised mortgage broker will tell you exactly where it applies to your case.
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