< Back to blog

New Help to Buy Scheme is up and running Posted On 26 January 2021

Homes England has announced that first-time buyers can now apply for the new Help to Buy Equity Loan Scheme

 

The Help to Buy scheme has been around for a while now, however, from the 16th December last year, the new Help to Buy: Equity Loan scheme has been open for applications from first-time buyers looking to purchase a new-build home.

 

With the new scheme, the government lends homebuyers up to 20% (40% in London) of the cost of a newly built home. Customers pay a deposit of 5% or more and arrange a mortgage of 25% or more to make up the rest. The equity loan is interest-free for the first five years.

 

Homebuilders are getting into contract for the new scheme and starting to market their new build homes. Eligible first-time buyers will be able to reserve their homes from now and get the keys to move in from the 1st April.

 

Housing Secretary Rt Hon Robert Jenrick MP said:

 

“The Government is providing more ways to help families onto the housing ladder, and provide that life-changing moment when you get the keys to your own home.

 

“Alongside First Homes, Shared Ownership and our £12bn investment in affordable housing, our new Help to Buy scheme will help thousands more families take their first step into a home of their own.”

 

The new Help to Buy: Equity Loan (2021-2023) helps those who need it most, first-time buyers. There are regional price limits, set at 1.5 times the average first-time buyer price in each region in England.

 

Anyone interested in the new Help to Buy: Equity Loan is encouraged to read the Homebuyers Guide – https://www.gov.uk/government/publications/help-to-buy-equity-loan-buyers-guide

 

< Back to blog

Connect with us

Recent Posts

Embracing The Cosy

Your Autumn style Fix   Autumn officially began two weeks ago and whilst we are still being treated to the occasional kiss of sunshine, it is time to indulge in the cosiness that comes with the autumnal season. After a year in tracksuits and lounge/athleisure wear, this autumn presents the perfect opportunity for some fearless …

Read more...

Wake Up and Smell the Coffee

Sip your Favourite Beverage this Coffee Week   The UK’s Coffee week begins on Monday 18th October this year and is a period where coffee shops, restaurants, roasters, and their customers come together to raise funds for Project Waterfall – a charity working to end the water crisis in coffee-growing communities across the world. By …

Read more...

Exploring the Stamford Music Scene

  Local Bands you need to listen To Stamford is well known for its picturesque buildings, cobbled streets, and regular appearance in period dramas. It is not commonly spoken about in terms of its music scene, however, nestled amongst the limestone buildings and Collyweston slate roofs lies some hidden talent that needs to be acknowledged.  …

Read more...

Does your Home Still Suit Your Needs?

Deciding whether to stay or Go Deciding to move house is an exciting, if somewhat daunting, decision. Identifying your ‘why’ is crucial when you start to sense that niggling feeling that has your trawling Rightmove to find your next home. Feeling cramped is one of the most common driving factors when deciding to move. We …

Read more...

House Prices Growing Month on Month

Annual growth of 10% for the past five Months Wondering whether to take the plunge and list your property for sale? If you’re looking to get the best possible price for your home, now is the time to act. According to Nationwide’s House Price Index (HPI) UK house prices have seen a growth of at …

Read more...