Advice For Help To Buy Mortgage Holders

What was the Help to Buy scheme?

The Help to Buy equity loan was a government scheme first introduced to the market in 2013. The scheme allowed first-time buyers to take advantage of a 20% equity loan from the government whilst contributing a saved 5% deposit.

Repaying a Help to Buy equity loan

For the first five years of the agreement, purchasers did not have to pay any interest on the loan. From year six onwards, interest is payable on the initial loan value. As house prices increase, the government's equity share within the property will grow with it.

What options do I have when the interest-free period ends?

There are several options available to home buyers who have used the Help to Buy scheme and have now entered the payable interest phase of the loan agreement. Having an initial consultation with a mortgage adviser will determine the best option for you.