Help to Buy

Help to Buy is available to both first time buyers and existing home owners alike and means you can buy a new home with a low 5% deposit.

If you’re a first time buyer we know how difficult it is to raise a large deposit to purchase your first home. With Help to Buy you’ll need to save just 5% deposit to get a mortgage, so you could purchase your first home sooner than you thought.

If you’re an existing homeowner, you can use Help to Buy to trade up to a bigger property - even if you have limited equity in your current home, because you only need 5% deposit to move.

The terms of the scheme vary between England and Wales, so take a look at the Help to Buy scheme in your area for more details.

There are two ways to buy a new home with a 5% deposit using the Help to Buy scheme.

The Help to Buy interest free equity loan

exclusively available on new build properties, the equity loan could reduce your mortgage repayments, making this an affordable option.

The Help to Buy Equity Loan scheme is open to both first time buyers and existing homeowners. There is no income cap for applicants and you can buy a new-build property with a value of up to £600,000.

The scheme helps you to buy your home with an equity loan of up to 20% of the full price of the property, and you'll need to obtain a 75% mortgage. You won't have to pay any interest charges on this loan for the first five years and you own 100% of your own home from the start.

The Help to Buy mortgage guarantee

Means that you could get a 95% mortgage on the home of your choice.

Looking for more information?

You can also speak to one of our helpful Sales Executives who can explain how Help to Buy could work for you. Alternatively, download our at-a-glance Help to Buy leaflet .

With the Help to Buy equity loan scheme, you’ll need as little as 5% deposit to buy a new home.

Help to Buy is exclusively available on new homes.

With the Help to Buy equity loan scheme:

• Both first time buyers and existing home owners are eligible.
• You will only need a 5% deposit to purchase your new home.
• The Government will lend you up to 20% of the value of your new build home via an equity loan.
• The equity loan is interest free for the first five years.
• You may only need to secure up to a 75% mortgage.
• The Help to Buy equity loan can be repaid at any time or on the sale of your home.
• The scheme is available across all WV Living developments in England, Scotland and Wales.
• The equity loan scheme details vary between England, Scotland and Wales. Take a look at the terms and conditions for each country at the bottom of this page.

With the Help to Buy mortgage guarantee scheme, you only need a 5% deposit to buy a new WV Living home.

With the Help to Buy mortgage guarantee scheme you could get a 95% mortgage, which means you only need to put down a 5% deposit to buy a new home.

Great news for first time buyers who are struggling to save for a large deposit, and existing home owners who have limited equity in their current home.

Read on to find out more information about the mortgage guarantee scheme.

With the Help to Buy mortgage guarantee scheme:

• You could get a 95% mortgage.
• You will only need a minimum 5% deposit to buy a new home.
• The scheme is available across all WV Living homes England, Scotland and Wales worth up to £600,000.
• With the Help to Buy mortgage guarantee, the Government will guarantee your mortgage up to 15% of the value of the property.
• This makes it less risky for lenders to offer a mortgage to a borrower with only a 5% deposit, and means that they will be able to offer cheaper rates than previously available with a 5% deposit.

For more information, take a look at the full terms and conditions for Help to Buy Mortgage Guarantee.