We are offering drop-in appointments across most developments; however, should you wish to have dedicated time with our sales advisor, we encourage you to book ahead. Come and visit us.
Applications for the Government’s Help to Buy scheme are no longer being accepted as of Monday 31st October 2022. Buyers who have already reserved a home using the scheme have until Friday 31st March 2023 to complete their purchase.
If you have already bought your home using Help to Buy and would like further information about the scheme, please visit the gov.uk website.
For a property worth £250,000
£12,500
£50,000
£187,500
5%
Cash Deposit
20%
Shared Equity Loan
75%
Your Mortgage
How does it work?
With a Help to Buy equity loan, first-time buyers could purchase a newly-built home with just a 5% deposit.
As part of the scheme, the Government offered to lend homebuyers up to 20% of the cost of their home (40% in London), meaning that they'd only need a 75% mortgage to make up the rest (55% in London).
For the first five years, the Government’s share of the loan is completely interest-free. Buyers are obligated to repay the Help to Buy loan after 25 years, or earlier if they sell their home, repaying the same percentage of the proceeds of the sale (i.e. if the buyer received 20% on purchase, they must pay 20% of the proceeds of the future sale).
The Help to Buy scheme was available to first-time buyers only, subject to eligibility, and was restricted by regional price caps.
The scheme ended on 31st October 2022.
Help to buy steps
1
Find and reserve your Ashberry home
2
Apply for your mortgage with Help to Buy
3
Receive your mortgage offer
4
Move into your brand new Ashberry home
Everyone had great communication, were really friendly and approachable. We would definitely recommend Ashberry.”
You own 100% of your home
Please refer to our dedicated guides for information regarding Forces and Wales.
Help to Buy FAQs
Which properties were eligible for Help to Buy?
The scheme was only available to new build homes, and regional price caps did apply. See the diagram above, or call one of our sales advisors for more information on how the Help to Buy scheme may differ in your area.
How much deposit was required?
A 5% deposit was required for the scheme
How much could I borrow using Help to Buy?
The amount you could have borrowed varies by country and area. In England and Wales, you could borrow up to 20% of the cost of the property, though in London this figure was up to 40%. Maximum property prices under the scheme also vary by region in England.
When do I have to repay the loan?
You must repay the equity loan after 25 years, or if earlier, when you sell your home.
Can I repay the loan early?
You can pay back all, or part, of the loan at any time, with a minimum of 10% of the prevailing market value of your home.