Government Help to Buy Scheme


A mortgage supported by the Help to Buy: mortgage guarantee scheme works in
exactly the same way as any other mortgage except that under the scheme the
Government offers lenders the option to purchase a guarantee on mortgage loans.

Because of this support,
lenders taking part are able to offer home buyers more high-loan-to-value mortgages (80-95%).

You will still be fully responsible for your mortgage repayments. So if you
have a 5% deposit, you will need to take out and pay back a 95% mortgage.




A mortgage under the Help to Buy: mortgage guarantee scheme works like any
other mortgage. Your lender will check that you can afford the mortgage and that
you do not have a history of payment difficulties.

To qualify for a mortgage supported by Help to Buy: mortgage guarantee:

  • the property you are purchasing could be an existing or new-build home in
    the UK, priced up to £600,000
  • you mustn’t own any other property anywhere in the world at the time you buy
    your home supported by the Help to Buy: mortgage guarantee scheme
  • your mortgage must be a repayment one, not interest only. Offset and
    guarantor mortgages are also excluded from the scheme
  • you can’t let out the property to somebody else
  • your mortgage can be taken out by an individual or individuals but not by a
  • you cannot use the mortgage guarantee scheme with any other Government
    scheme such as Help to Buy: equity loan or shared ownership. Your deposit for
    the property can’t come from a government scheme either
  • you don’t have to pay any additional fee to Government to get a Help to Buy
    supported mortgage

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