Ways to buy property

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How to fund your purchase

Learn about the different ways to fund your property purchase, including buying in cash or with a mortgage.

Help to Buy Equity Loan England

Under this scheme, the government lends you up to 20% of the cost of your newly built home. Find out whether this scheme could be useful for you in this section.

Help to Buy Equity Loan Scotland

Help to Buy Scotland is an Equity Loan scheme, similar to the one that runs in England, and is available for new homes provided by approved suppliers.

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Help to Buy Equity Loan Wales

The Welsh version of the popular Help to Buy scheme, learn more about whether this could be of use to you and your purchase.

Help to buy – ISA

Launched in December 2015, Help to Buy ISAs are an alternative method to help boost your deposit for a first home.

Help to buy – Shared Ownership

Find out more about this scheme which allows you to buy a share in a property and then pay rent on the remaining part.

Help to buy – Mortgage Guarantee

The Help to Buy: mortgage guarantee scheme was a limited scheme which finished at the end of 2016

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Thursday, December 14, 2017

Mortgage Guarantee, Help to Buy

Mortgage Guarantee

The Help to Buy: mortgage guarantee scheme has closed to new loans as of 31 December 2016 as planned. A wide range of 95% loan-to-value mortgage products are available from commercial lenders.

For information on the other government housing schemes please visit: https://www.ownyourhome.gov.uk

If you already have a mortgage through the Help to Buy: mortgage guarantee scheme, you may find the following FAQs helpful:

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Does the scheme guarantee my payments?

The scheme does not guarantee your payments – the guarantee protects your lender rather than you (as a borrower) against losses. You are responsible for paying your mortgage under this scheme. Borrowers could lose their home if they do not keep up their mortgage repayments on a Help to Buy supported mortgage in exactly the same way as any other mortgage.

What happens if my circumstances change?

A Help to Buy supported mortgage works in exactly the same way as any other mortgage. Borrowers should contact their lenders, in accordance with the terms and conditions of their mortgages if their circumstances change.

What happens if I get in to payment difficulties? Will the Government repossess my house?

A Help to Buy supported mortgage works in exactly the same way as any other mortgage. If you get into payment difficulties you should contact your lender as soon as possible who will be able to provide advice to you. All forbearance and repossessions will be undertaken by lenders, not the Government.