The Help to Buy Equity Loan (2021 -2023) is a Help to Buy Mortgage and is an equity loan scheme provided by the government. The Help to Buy equity loan applies to first-time buyers only, meaning if you have ever owned a property, including being added to the title deeds or via an inheritance, anywhere in the world, at any point of your life, irrelevant of how long ago it was, the scheme will not apply to you.

There are some key elements to this process. You must have had your affordability checked and your help to buy equity loan agreed before making any application to a mortgage lender.

Usually, once you have found a property, the developer will ask for a reservation fee in order to secure the property. You will be provided with a “reservation form” which holds all of the information required to obtain your help to buy equity loan.

To apply for a help to buy equity loan a “PIF” (Property Information Form”) will need to be completed.

When it comes to Help to Buy, we are proven experts at knowing the help to buy equity loan mortgage process for first time buyers inside out, and have access to all of the relevant forms and most importantly will pair you with the correct mortgage lender everytime!

Help to Buy: Equity Loan

A help to buy equity loan is a type of Help to Buy Mortgage.

You receive an Equity Loan from the Government, for either 20% (Outside of Greater London) or up to 40% (Within Greater London) of the cost of your newly built home, so you’ll only need a 5% deposit as a minimum. You can choose to put down a bigger deposit, therefore taking a smaller equity loan if that is your preference.

You won’t be charged loan fees on the help to buy equity loan for the first five years of owning your home.

See our latest YouTube video on the Help to buy Equity Loan 2021, to the right. >

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