The Government has a number of Help to Buy schemes, some of which are briefly mentioned below. If you are eligible and want to take advantage of any of the Help to Buy schemes, we can help you find the most suitable mortgage for you.

If you are saving to buy your first home, using a Help to Buy ISA, the Government will boost your savings by 25%. For example, save £200 a month and they add £50, up to a maximum of £3,000, boosting your ISA savings of £12,000 to £15,000. <br><br>Please note, the Help to Buy ISA closed to new accounts on 30 November 2019. If you opened a Help to Buy ISA before 30 November 2019, you will be able to continue saving into your account until November 2029.

With a Help to Buy Equity Loan the Government lends you up to 20% of the cost of your newly built home (within Greater London 40%), so you will only need a 5% cash deposit and a 75% mortgage to make up the rest.

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

If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

With Help to Buy Shared Ownership you can buy a newly built home or an existing one through resale programmes from housing associations. You will need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared Ownership properties are always leasehold

Terms & Conditions apply to above schemes. For eligibility and more information please visit the official website: www.helptobuy.gov.uk/

Source: Information contained within this web page has been taken from the Help to Buy website and was last checked January 2020.

For help with a mortgage linked with any of the government Help to Buy schemes, contact us by telephone: 07748 800587, email: advice@hcmortgages.com, or via our contact form.