Help to Buy

The Government backed equity scheme

The Help to Buy equity loan is available to first time buyers looking to move to a new build property. This scheme began on the 1st April 2021 and ends March 2023.

  • You only need a minimum 5% deposit to qualify
  • The Government will lend you up to 20% of the value of your property through an equity loan
  • The loan can be repaid at any time or on the sale of your home
  • The loan will be interest free for the first 5 years
  • From year 6 a monthly fee of 1.75% of the equity loan is payable
  • The interest rate will rise each year in April by the Consumer Price Index (CPI), plus 2%
  • You continue to pay interest until the loan is repaid in full
  • You will only need to secure up to a 75% mortgage from a participating bank or building society (Halifax, Lloyds TSB, Barclays, NatWest)*
  • Only available on new build homes
  • There is a maximum home purchase price (in the North West) of £224,400
  • No limit on annual household income

Worked example based on a £200,000 purchase price:

You arrange mortgage (75%) £150,000
Deposit (5%) £10,000
Government equity loan (20%) £40,000
Total Purchase Price: £200,000

If you wish to apply for Help to Buy funding on your new home you should complete a Property Information Form, which is available from our sales offices and return it to your Wiggett Homes representative.

To view the 2021 - 2023 Government Help to Buy Equity Loan scheme, please click here.

All Wiggett Homes new build properties come with a 10 year NHBC or LABC guarantee.

Please note, Help To Buy is subject to acceptance and subject to contract.