Call us01689 822554

The ‘Help to Buy’ Scheme

Are you or your children looking to buy a property, and if so, have you heard about the Government’s ‘Help to Buy’ scheme?

 Why has ‘Help to Buy’ been introduced?

The Government is aiming to encourage economic recovery by increasing home ownership and to stimulate the housing market with the ‘Help to Buy’ scheme.

How can ‘Help to Buy’ help me?

There are two ways in which the ‘Help to Buy’ scheme could assist you.

Firstly: If you are intending to buy a new-build property for up to £600,000 as your home the Government are offering interest-free loans for up to 20% of the property’s value.

Unlike bank mortgages, the Help to Buy loan is interest free for the first 5 years. In the sixth year, interest is charged at 1.75% of the outstanding loan plus 1% each year. The annual 1.75% charge will increase each year in line with the rate of inflation.

Secondly: If you are intending to buy a property for £600,000 or less the Government will provide a mortgage guarantee of up to 15% of the mortgage. This means you will need a reduced deposit rather than the 25% currently required by most lenders.

Who can apply?

To qualify for the loan or mortgage guarantee, you must be 18 or older and eligible for a mortgage from a reputable lender. You will need a deposit of at least 5% of the property’s value. The property being purchased must be your only residence.

The loan is only available for new-build properties.

The guarantee is available for all properties.

How can I apply?

New-build houses are sold by builders and developers, who will help you to apply for a Help to Buy loan. Registered developers and properties can be located through local Help to Buy agents.

Many lenders have indicated that they will be offering mortgages using the guarantee scheme. You will need to compare the different products and in particular the interest rates and set-up fees charged.

How long will the scheme last?

The scheme is expected to last for 3 years but the Government has the power to bring it to an end earlier.

How is the scheme being funded?

Both schemes look attractive and may assist you in purchasing a property. However, the costs will ultimately be passed to those who pay interest on the loans or use the guarantee scheme. As ever… you need to read the small print!

Will you need a solicitor?

When buying any property and particularly a new-build it is important that you involve an experienced property solicitor who will help you understand the scheme and its implications for you.

Helpful website

Buying & Selling
a Property

Enquiry now

  1. required
  2. required
  3. required
  4. required
  5. Please confirm you have read and understood the Terms of Use and Privacy Policy.

What our clients say about us:

  • “We have both been impressed with your diligent and thorough conveyancing, highlighting issues with the property that had been missed during the previous sale”.

  • “Catherine Westcott truly helped us beyond her duty and was always there for us, going that extra mile made all the difference”.

  • “All very satisfactory, efficient and approachable. We now look upon Thomas Dunton as our solicitors”.

  • “Extremely satisfied with the service that you have provided. We will be recommending Thomas Dunton to our family and friends”. 

  • “Great patience and great deal of thought to ensure our Will achieved our complicated requirements. Thank you”.

  • “I found the staff I dealt with professional, practical and patient…helping to clarify matters and enabling me to take better informed decisions”.

  • “Wonderful and understanding of my circumstances. Guided me through the process and presented all the options in a way that I could understand”.

  • “Thank you for all your hard work. You have been amazing. I will forever be thankful that you were my solicitor”.

  • “The service was exceptional —  friendly, welcoming and sympathetic. I do not think that I could have received a better service anywhere else“.

  • “No words to express my gratitude to your amazing work and patience”.

  • “Thank you very much for the courtesy, care and efficiency which we have received from you and everyone we have dealt with at Thomas Dunton”. 

  • “Thank you so much for all your help for my family and I.  I am so very  grateful.  You’re  my little Christmas angels”

  • “What you all do for people is amazing. You should all be proud of yourselves for putting a little bit of light back in my life and I’m most certain that of others”

  • “The firm give their clients very detailed and clear advice in plain English.”

  • “Extremely friendly, did not feel that anything was too much trouble”.

  • “I received a very prompt, professional and caring service from you at a very sad and distressing time”.


  • “Thank you all for your amazing support throughout last year.  You really are a fabulous team”.


  • “It really was a hideous experience, but every time I got to the point I couldn’t breathe and I spoke to one of you, I felt instantly strong again”.

  •  “You made me giggle and reassured me whenever I was about to cry or hide in a cupboard, often picking up the phone to check I was ok – so very kind”.


  • “Vernon Hadida is by far the best solicitor I have ever dealt with.”

  • “Extremely satisfied with the service which I considered excellent value for money.”

  • “I was very happy with the service. I was always able to speak to somebody that could help me when I telephoned.”

  • “Thank you for all your work on my claim. I am extremely grateful for your assistance.”

  • “Thomas Dunton exceeded my expectations in terms of both service quality and value for money.”