Help To Buy London.

With a Help to Buy Equity Loan, the Government lends you up to 20% of the cost of your new build home, so you will need a minimum 5% deposit and a 75% mortgage to make up the rest.

For this scheme you must have a mortgage, which will be a first charge, as the equity loan can only be a second charge. The equity loan is for a maximum of 25 years or before if the property is sold or the mortgage is redeemed, whichever term is the shorter of the two.

1st February 2016 has been agreed as the start date for the 40% equity loan in London.

From this date reservations will be able to be made on properties under the new loan amount but it is very important that no reservations or applications for the 40% loan are taken before this date.

All live HTB applications that are currently underway and that are made up to the 1st of February will proceed under the existing terms for the 20% loan.