Help to Buy: Equity Loan: How to Apply

Before you get started, make sure you have the funds to pay for:

  • a fee to reserve your home (up to £500)
  • a 5% deposit on exchange of contracts (if you have a larger deposit, pay the rest on completion)
  • other fees on completion (stamp duty, legal fees and mortgage fees).

Check that the equity loan meets your needs and that you can afford to repay it.

Consider getting independent advice to help you understand your financial situation.

You can apply with a Help to Buy agent in the area where you want to live, in England.

You must reserve your home and apply for a Help to Buy: Equity Loan by 6pm on 31 October 2022.

For more information download the Homebuyers’ guide to the Help to Buy: Equity Loan.

Things to know before you apply

Help to Buy: Equity Loan is not a discount scheme or a price reduction – the cost of the home will be the same whether or not you get an equity loan.

We do not charge interest on the equity loan for the first five years, but you will start to pay it from year 6. 

The total equity loan amount you repay is linked to the value of your home at the time you want to repay, and not the amount you originally borrowed. 

You must have a repayment mortgage, and it must be valid for the duration of the equity loan.

An equity loan is secured against your home by a legal charge in the same way a repayment mortgage is.

Help to Buy: Equity Loan is exempt from regulation by the Financial Conduct Authority.

For more information go to who is eligible