How Much Can I Get from Help to Buy?
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The Help to Buy: Equity Loan was first launched in 2013 to help buyers get on the property ladder. Applicants could pay a 5% deposit and borrow up to 20% (40% in London) from the government, with the remaining funds covered by a mortgage.
You can no longer apply for a Help to Buy: Equity Loan in England. However, Help to Buy Wales is still open for applications until September 2026 for eligible new-build purchases. In its place, buyers may also consider other home-buying schemes that offer support for first-time buyers.
Each option may differ slightly, but this is the standard process when applying for a Help to Buy loan:
1. Confirm eligibility
Applicants must meet the scheme requirements and the property or plot must be from a registered developer.
2. Reserve the plot
Some developers may request a reservation fee before legal proceedings can begin. Once paid, you should instruct your conveyancer.
3. Submit Authority to Proceed (ATP) if required
Your solicitor submits an ATP application to the relevant Help to Buy agent before drafting the Help to Buy paperwork.
4. Receive your mortgage offer
The Help to Buy documents will be submitted as part of your mortgage application.
5. Arrange conveyancing searches
Your conveyancer will carry out essential property searches as part of the standard conveyancing process.
6. Obtain Authority to Exchange (ATE) if required
The agent sends the Authority to Exchange if needed, and contracts are exchanged at this point, making the purchase legally binding.
7. Complete the transaction
Completion typically takes place around 2 weeks after exchange when all funds are transferred, and the buyer receives the keys.
8. Register the property with the Land Registry
The solicitor’s final responsibility is registering the property, mortgage, and Help to Buy loan with the Land Registry.
Even though applications for most Help to Buy Equity Loans have closed, there are other schemes that can provide support for first-time buyers.
Lifetime ISA (LISA)
First-time buyers can receive a government bonus of 25% each year on savings up to £4,000, to buy a first home worth up to £450,000 (subject to rules and eligibility).
Shared Ownership
Buyers purchase a share of a property, paying a 5% to 10% deposit of the share rather than the full property price. They'll then pay the mortgage for the share they own and rent on the remaining share.
Mortgage Guarantee Scheme
A government-backed guarantee can support the availability of low-deposit mortgages, including 95% loan-to-value products, through participating lenders.
If you took out a Help to Buy: Equity Loan, you have several options when it comes to repaying the loan:
Full payment
You can pay the remaining loan in full, which can be done if you sell or remortgage the property.
Staircasing
A more affordable option is staircasing, which allows you to pay off your loan partially.
After selling
If you can’t afford a full repayment, the government can take a share of the property price, which is typically the same percentage as the equity loan.
Bonuses and discounts
If you received a bonus or discount as part of your purchase, such as the LISA bonus, you won't have to pay this back.
When using a loan, buyers can save between 10% to 50%, depending on the scheme and the deposit paid. Those applying via the Mortgage Guarantee Scheme will pay a 5% deposit and have access to 95% LTV mortgages thanks to a government guarantee for lenders.
The First Homes scheme allows first-time buyers to purchase a new-build property for 30%-50% off the stated price.
Answers to common questions about finding and choosing the best help to buy solicitors.
Help to Buy purchases involve extra paperwork and tight new-build deadlines, so choosing an experienced solicitor matters.
Look for Help to Buy experience: Ask how often they handle Help to Buy and new-build cases. They should be familiar with the additional equity loan documents and the steps needed after completion, such as registering the loan.
Understand their charging method: Get an itemised quote and check whether it’s a fixed fee. Confirm what’s included and what may cost extra (for example, new-build or Help to Buy administration), plus likely disbursements like searches and Land Registry fees.
Choose local or online: Local firms suit those who want face-to-face contact, while online services can be convenient and fast if they have strong communication and tracking.
Verify speed and availability: Developers often expect exchange within a short timeframe (commonly around 28 days), so check turnaround times, how quickly they respond, and how you’ll receive updates.
You will need to hire a solicitor to assist with your case. They’ll assist with the standard conveyancing process as well as unique steps for Help to Buy transactions, such as:
Help to Buy solicitor fees cost around £2,375* for freeholds and £3,605* for leaseholds when buying at the £292,000* average UK property price. These costs consist of legal fees, disbursements, and a Help to Buy supplement fee.
Leasehold transactions are more expensive as there are additional fees, such as the leasehold property supplement fee.
*Based on the average service costs for Konnect You users. See how our data works.
If you sell your new build while your Help to Buy equity loan is still outstanding, you’ll need to repay the loan when the sale completes. The amount you repay is linked to the same percentage share you originally borrowed, not a fixed cash amount. For example, if you took a 20% equity loan, you repay 20% of the property’s market value at the time you sell.
Before repayment can be calculated, you’ll usually need to arrange an independent RICS valuation to confirm the current market value. This valuation is used to work out how much is owed and is required even if house prices have fallen. Your repayment percentage stays the same, so if the value has decreased, you still repay the same share, just based on the lower valuation.
Your solicitor will typically handle the legal steps as part of the sale, including liaising with the Help to Buy administrators, providing the valuation, and making sure the loan is repaid from the sale proceeds on completion.
Help to Buy conveyancing can take up to 16 weeks, which is often around 4 weeks longer than a standard purchase. This is because there’s extra paperwork and additional checks linked to the equity loan, and your solicitor may need to liaise with third parties as part of the process.
Even if a developer expects you to exchange within 28 days (common with new builds), that doesn’t always mean you’ll complete quickly. The period between exchange and completion can be longer, as there may be further steps to finalise documents, carry out additional checks, and arrange funding before the keys can be released.
