Help to Buy

An exclusive scheme for first-time buyers on new homes

The government's Help to Buy scheme lends first-time buyers up to 20% with an equity loan – meaning you can access competitive lending rates for the maximum of 75% mortgage deal.

HOW IT WORKS

Here's how it works

Example:

Example house value

£300,000

Buyer's 5% deposit

Government's 20% loan

75% mortgage from approved lender

You pay as little as 80% of the full purchase price up front (5% deposit plus 75% mortgage)

The remaining 20% is an equity loan form the Government (You must pay back the loan at the end of your main mortgage term or when you sell your home)

Help to Buy equity loan is only available on new-build homes

Available to first-time buyers purchasing their own home*

Maximum property purchase price of £437,600 dependent on location outside of London

Source: Budget 2013 HM Treasury - www.hm-treasury.gov.uk/budget2013

The first-time buyer government scheme works to help you buy your new build home sooner. By using the scheme, you’ll need just a 5% deposit, with the government providing an equity loan of up to 20% of the value of the new home you’re buying (40% in London).

You can then secure up to a 75% mortgage, which opens the door to more competitive lending rates, and may make your repayments more affordable than you first thought.

What’s more, you won’t be charged interest or fees on the government equity loan for the first five years of owning your home under the affordable new build scheme, and you can choose to repay the equity loan at any time without penalty, or upon the sale of your home.

If you’re an existing homeowner wanting to move, take a look at our other ways we can help you move.

Regional Price Caps

Regional caps are now in place, meaning you can spend between £186,100 and £437,600 (or £600,000 in London), depending on where your new home is located.

The new price caps vary by region, meaning the amount you can spend on your new home is based on where the house is located. The cap is linked to the general cost of housing in the area, meaning there is a big difference in the price caps between regions.

Take a look at this map that shows each region and its respective price cap figure.

North East

£186,100

Yorkshire and the Humber

£228,100

East Midlands

£261,900

East Of England

£407,400

London

£600,000

South East

£437,600

North West

£224,400

West Midlands

£255,600

South West

£349,000

How much could you afford using Help to Buy

Enter your details

Your region

Your deposit

You could afford a new Bovis home up to the value of

With your deposit of

You could get a government loan of

And your mortgage will be

Now, let's find your new home

Bovis Homes you could afford with Help to Buy

Number of bedrooms

Price min

Price max

Home type

Frequently asked Questions

Can I buy any home with Help to Buy?

Help to Buy is available to first-time buyers ONLY on new build homes across England. Regional price caps are in place, meaning the amount you can use to purchase a home using Help to Buy in England will depend on where you are buying. Please see the regional map above for more information.

How does Help to Buy give me access to more competitive mortgage deals?

With a 5% deposit and the government’s equity loan of up to 20% of the value of the new home, you only need to secure up to a 75% mortgage. This means you may benefit from more competitive lending rates and a wider mortgage choice.

Is the Help to Buy scheme open to everyone wanting to buy a new home?

Help to Buy is now only available to first-time buyers due to changes in government legislation in April 2021.

Are there any fees to pay?

The government loan is interest free for the first five years. However a management fee of £1 a month will be applicable from the date of purchase. After that you pay a rate of 1.75%, rising by 1% each year, plus the RPI. You may also be required to pay mortgage arrangement fees.

Can I use Help to Buy if I'm an existing home owner looking to trade up?

No, changes to Help to Buy from April 2021 means that only first time buyers are eligible for the scheme.

More ways we can help you move

Help to Buy London

Buy in London with just 5% deposit and 55% mortgage. The government backed scheme, exclusive to first time buyers means a new home in London could be more affordable than you thought.

How does it work

Home Exchange

Moving house is stressful enough already, so we aim to alleviate some of that stress. With Home Exchange you can have peace of mind knowing that we are your guaranteed buyer.

How does it work

Smooth Move

Smooth Move is our scheme for all existing property owners to save time and money. We deal with the estate agents to sell your home and even pay the estate agents’ fees!

How does it work

Introduce a Friend

Know someone who’d love a new Bovis Home? Introduce a friend and we’ll give you £500* when they buy from us.

How does it work

Help to Buy London

Buy in London with just 5% deposit and 55% mortgage. The government backed scheme, exclusive to first time buyers means a new home in London could be more affordable than you thought.

How does it work

Home Exchange

Moving house is stressful enough already, so we aim to alleviate some of that stress. With Home Exchange you can have peace of mind knowing that we are your guaranteed buyer.

How does it work

Smooth Move

Smooth Move is our scheme for all existing property owners to save time and money. We deal with the estate agents to sell your home and even pay the estate agents’ fees!

How does it work

Introduce a Friend

Know someone who’d love a new Bovis Home? Introduce a friend and we’ll give you £500* when they buy from us.

How does it work

Credit is secured against your home. *Subject to status, Help to Buy Terms & Conditions and available on selected properties in England only. Eligible applicants will be offered an equity loan up to a maximum of 20% of the purchase price (based on the open market value). Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings/deposit where required. The equity loan is provided by Homes England and held as a second charge. Not to be used in conjunction with any other purchase assistance scheme, offer or promotion. Please ask our sales consultant for details.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Help to Buy

An exclusive scheme for first-time buyers on new homes

Here's how it works

Example:

Regional Price Caps

How much could you afford using Help to Buy

Enter your details

Now, let's find your new home

Bovis Homes you could afford with Help to Buy

Sorry, we couldn't find any suitable homes.
Please broaden your search and try again.

Frequently asked Questions

More ways we can help you move

Help to Buy London

Home Exchange

Smooth Move

Introduce a Friend

Help to Buy London

Home Exchange

Smooth Move

Introduce a Friend

Still haven't found what you're looking for?

Property search quick links

Help to Buy

An exclusive scheme for first-time buyers on new homes

Here's how it works

Example:

Regional Price Caps

How much could you afford using Help to Buy

Enter your details

Now, let's find your new home

Bovis Homes you could afford with Help to Buy

Sorry, we couldn't find any suitable homes.Please broaden your search and try again.

Frequently asked Questions

More ways we can help you move

Help to Buy London

Home Exchange

Smooth Move

Introduce a Friend

Help to Buy London

Home Exchange

Smooth Move

Introduce a Friend

Still haven't found what you're looking for?

Property search quick links

Sorry, we couldn't find any suitable homes.
Please broaden your search and try again.