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Help to Buy

A more recent government scheme was Help to Buy, which came to an end March 2023.

*As a mortgage is secured against your home or property, it could be repossessed if you do not keep up with the mortgage repayments.

This scheme was put in place to help first time buyers get on the property ladder.

This was then introduced to existing home owners looking to move, giving them the opportunity to purchase a New Build residential home, with the help of the government scheme.

How did the Help to Buy scheme work?

This was a government backed scheme which helped many people get on the property ladder and was only available on new build properties.

The government would contribute 20% of the purchase price. The buyer would then have a minimum deposit requirement of 5% and would need to raise the remaining funds through a mortgage.

Help To Buy


Property house


Help to Buy


5% deposit on


Mortgage Loan required


The government’s 20% Help to Buy would be interest free for the first five years and then in year six, interest would be charged at 1.75%.

Can you remortgage and repay the Help to Buy loan?

Yes.  You can remortgage and look to raise additional funds to pay back your Help to Buy loan.  You will need to meet the lenders affordability and criteria checks when completing this transaction and a full mortgage application will need to be submitted.

You will also need to request permission from the administration team and have a RICS Chartered survey conducted on the house to confirm the value of the property.

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