If you’re looking to buy your first home, one of the options that can assist in getting onto the property ladder is something called a Help to Buy Equity Loan. This is a finance loan from the UK Government, specifically for first-time buyers in England who are purchasing a newly built home.

After running for several years, the Government have recently made the decision to bring Help to Buy to a close, with the final date for applications being Monday 31st October 2022. This means that after this date, you will not be able to apply for any properties with the Help to Buy Equity Loan.

The Help to Buy Equity Loan helps many people get onto the property ladder, with the Government providing an equity loan of up to 20% of the property value (up to 40% in London) while you make up the rest of the deposit. The loan is interest-free for 5 years.

This gives you the advantage of sourcing a reduced mortgage and deposit than if you were buying outright by yourself, allowing you to find a home that better suits your needs, wants and budget.

At Sanctuary, we believe in being transparent with our customers, which is why we will be keeping you up to date with the latest news regarding the end of the Help to Buy Equity Loan. If you have any questions about Help to Buy, please visit our webpage to find out more information or you can get in touch with us here.

If you would like to find out more about the properties we have available with Help to Buy, please visit our Developments section here.

Sanctuary Help to Buy deadline graphic


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