Help to Buy means you could afford to buy a brand new home with as little as 5% deposit.

The Help to Buy scheme is a Government-backed initiative for first-time buyers, as well as people moving up the property ladder.

The scheme is available on new build homes valued up to £600,000 to all UK residents, of any age. All you will need is a 75% mortgage from a bank or building society.

The balance of up to 20% will be covered by a Government equity loan. This equity loan is interest-free for the first five years, after which there is an interest charge of 1.75% on the loan.

For further information please refer to the terms and conditions.

Typical Example

First time buyers save on stamp duty

In the Budget on 22 November 2017, the Chancellor of the Exchequer announced a relief from stamp duty land tax (SDLT) for first time buyers.

The relief will apply to purchases of residential property for £500,000 or less, provided the purchaser intends to occupy the property as their only or main residence.

First time buyers purchasing their first home for £300,000 or less will pay no SDLT. Where the purchase price is over £300,000 but does not exceed £500,000 they will pay 5% on the amount above £300,000.

A calculator is available on HMRC’s website which calculates the SDLT due for first time buyers who are eligible to claim the relief:

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax