Certain aspects of eligibility vary between regions since property values are different for every area.
Additionally, when you buy your new home with the Help to Buy, you must not:
- Own or have your name attached to the deeds of any other property, whether in the United Kingdom or outside the country. If you are married, and you and your spouse jointly own property, you are treated as a homeowner. The home bought with the Equity Loan must be your only home.
You will be expected to sell your current home (in the UK or abroad) if moving.
If you are moving from an existing home, whether in the UK or abroad, you are expected to sell it.
This scheme is not offered to buy-to-let investors or those looking to own land and build residential properties.
- Rent out or sub-let the property you get from the scheme, except if you have written consent.
- Have financial interest in other residential properties, even if you don’t live in the building.
Always remember to never make fraudulent claims for your Help to Buy application, as doing so will make you liable to criminal prosecution.