Further guidance

How you access a Help to Buy: Equity Loan is changing

From 2 January 2020, you can apply for an equity loan from one of three Help to Buy agents appointed to provide the scheme in England. They will support with your application for an equity loan.

Help to Buy agents offer support and guidance about equity loans and how to purchase your new build property. Agents offer support based on the geographical area that they cover.

What this means for you:

Depending on when you are due to complete your house purchase you may not be affected by any of the changes we are making.

If you are due to complete your house purchase before the end of December 2019, nothing changes. You will continue to receive support from your existing Help to Buy agent to complete the house buying process.

If your completion date has changed or you are due to complete from January 2020, we will automatically pass your details to the new agent to ensure your purchase continues to go through.

New Help to Buy scheme announced

The government has announced a new Help to Buy scheme to run from April 2021. It is restricted to first-time buyers and includes regional property price caps to ensure the scheme reaches people who need it most. There are no changes to the current Help to Buy equity loan scheme which runs to March 2021.

The new scheme will run from April 2021 to March 2023. As with the current scheme, under the new scheme, the government will lend buyers up to 20% of the cost of a newly built home, and up to 40% in London.

Read more about this on gov.uk

For more information on the current scheme please read the Help to Buy Buyers’ Guide