Who is eligible for Help to Buy: Equity Loan

Who is eligible for Help to Buy: Equity Loan?


Eligibility for Help to Buy: Equity Loan (2021-2023)

To be eligible for a Help to Buy: Equity Loan (2021-2023):

  • you must be a first-time buyer
  • buying a new build home
  • the new build home you buy must fall within the relevant regional price cap.

If you are married, in a civil partnership, or living with a partner as if you were married, you will have to make a joint application with your husband, wife, civil partner or partner.

You and anyone you’re buying a home with must:

  • not own a home or residential land now or in the past in the UK or abroad
  • not have had any form of sharia mortgage finance.

You must tell us if you or anyone you are buying with has a connection with a homebuilder, as this could affect your eligibility for the equity loan scheme.

You are not allowed to sublet your home without Homes England’s consent.


To apply for Help to Buy: Equity Loan (2021-2023) you must

  • have a deposit of at least 5% of the purchase price
  • reserve a new build home with a registered Help to Buy homebuilder
  • arrange a repayment mortgage of at least 25% of the purchase price. This is separate from the equity loan
  • be able to afford the repayments on the equity loan, your repayment mortgage, and other outgoings.
  • sign a legal declaration to confirm that you are a first-time buyer. Your conveyancer will explain this to you

You can apply using our online application form.

If you make a fraudulent claim for a Help to Buy: Equity Loan you may be liable to criminal prosecution. You will also have to pay back the equity loan.


Eligibility checks

We will check if you’re eligible for the scheme.

We will use the eligibility calculator tool to check your monthly income and outgoings, including household bills and estimated mortgage repayments in the calculations.

Your repayment mortgage should be less than 4.5 times your gross annual income.

If you have a large deposit and can secure a mortgage without our support, consider if an equity loan is right for you. Getting independent financial advice could help you make the right choice.

Your home may be repossessed if you do not keep up repayments on your repayment mortgage, equity loan or other loans secured against it. Consider seeking independent financial advice before making any financial decisions.


Applying for Help to Buy: Equity Loan (2021-2023)

Homebuyers who are eligible for a Help to Buy: Equity Loan can start the application process.

More detailed information can be found in the Homebuyers’ guide to Help to Buy: Equity Loan (2021-2023).

Applying for Help to Buy: Equity Loan (2013 – 2021)

Applications for this scheme ended of 15 December 2020.