The Help to Buy scheme is only available to first time buyers of newly built homes and subject to eligibility and regional price caps.
Please utilise the below link for further and more detailed information www.helptobuy.gov.uk
What is Help to Buy?
A scheme for first time buyers and brand-new homes; you only require 5% deposit to buy a new Silverwood Home with Help to Buy. The government will then lend you up to 20% with an equity loan that is interest free for 5 years. This then allows you access to lending rates for up to a 75% mortgage deal.
Buyer's 5% Deposit
20% Equity Loan
75% Mortgage
How Does it work?
The scheme allows first time buyers to own your own home with only a 5% deposit.
As part of the scheme, the Government lends you up to 20% of the full cost of your new home and for the first five years, the government portion of the loan is completely interest free. The Loan must be paid back after 25 years, or earlier if you sell your home. You can choose to pay back the loan at any time whilst you own that home or on the sale of the home you used the loan for.