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Help To Buy
Who are we?
Home Buying Guide is a free to use service with the aim of helping first time buyers get onto the property lender.
How we can help you
The UK has a range of government backed housing schemes aimed to make home ownership more accessible, especially for first-time buyers.
Explore the current home ownership schemes available in the UK. If a scheme has expired, we also offer specalist lender schemes.
Buying guides
We provide a list of useful first time buyer guides to help you on your journey. We also offer savings and Insurance advice.
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Help To Buy: Equity Loan scheme
Since its inception on April 1, 2013, the Help to Buy: Equity Loan scheme has facilitated the purchase of over 387,000 homes in the UK. This initiative was designed to assist first-time buyers and those moving up the property ladder by providing an equity loan from the government.
Key Statistics
Between 1 January and 31 March 2021:
15,341 properties were bought with an equity loan, an increase of 61% from the same period in 2020.
From 1 April 2013 to 31 March 2021:
328,506 properties were bought with an equity loan.
The total value of these equity loans so far totals £20.1 billion.The value of the properties sold under the scheme totals £91.1 billion. 82% of all completions are by first-time buyers.
These statistics highlight the significant impact and widespread usage of the Help to Buy: Equity Loan scheme over the years.
The Help to Buy scheme has played a crucial role in making homeownership more accessible, particularly for first-time buyers, by lowering the initial financial barriers and providing substantial government support. The scheme has ended now however there are other schemes that could help you.
My Help To Buy Loan Is Ending – So What Next?
Before making any decisions, review the terms of your Help to Buy equity loan. Typically, the loan was interest-free for the first five years. From the sixth year onwards, you’ve likely started paying interest on the loan. Knowing the exact terms, including the interest rate and the amount you owe, will help you make informed decisions. We provide a complete guide on what to do next.
What Happens When I Sell My Help To Buy Home?
When you sell your Help to Buy home, unless you have already repaid your Help to Buy equity loan, you will need to repay Homes England’s equity loan at the same time. Click here to find out more.
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