The Help to Buy Equity Loan, which is currently available to first-time buyers and homeowners will end in March 2021.
From 1 April 2021, the current government-backed scheme will be available to first-time buyers only in England and regional property price caps will be introduced.
With just a 5% deposit and a 75% mortgage, first-time buyers may be able to borrow up to 20% (40% in London) of the cost of a new home from the Government.
Reginal Price caps
From April 2021, the amount you can purchase a home for using Help to Buy will vary depending on where in England you are buying, take a look at our table below.
REGION |
UP TO MARCH 2021 |
FROM APRIL 2021 |
| North East | £600,000 | £186,100 |
| North West | £600,000 | £224,400 |
| Yorkshire and the Humber | £600,000 | £228,100 |
| East Midlands | £600,000 | £261,900 |
| West Midlands | £600,000 | £255,600 |
| East of England | £600,000 | £407,400 |
| London | £600,000 | £600,000 |
| South East | £600,000 | £437,600 |
| South West | £600,000 | £349,000 |
Find out more about the Help to Buy scheme here.