Helping you to own your home

Let's get you started on buying your own home and find the right mortgage deal for you.

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What is Help to buy?

Help to Buy is a range of Government backed schemes to help people like you buy their own home. There are different types of home ownership schemes under the umbrella of Help to Buy. We can help you decide which scheme would be best suited for your personal situation and check if you’re eligible.

Help to Buy Equity Loans are available on new build homes in England with a purchase price of up to £600,000 – but not every new home qualifies for Help to Buy and is only available from new home builders registered with the scheme.

These loans are available to all home buyers including first time buyers and people moving house, subject to eligibility criteria. You’ll have to put down a deposit of at least 5% of the property price and the Government will give you a loan for a minimum of 10% and up to 20% of the purchase price.

You’ll need to pay this loan back to the Government after 25 years, or earlier if you sell the property. You will also need to arrange a mortgage of up to 75% to cover the rest of the cost of the property. For London, the maximum Government loan is up to 40%.

If you sell the property some of the profit on the sale is paid back to the Government. How much you pay back is based on the market value of your home when it’s sold. So, if you had a Help to Buy loan of 20% of the purchase price, you pay the Government back 20% of the sale price.

You’ll also have some extra payments to the Government relating to the equity loan deal. You must pay £1 per month from the date you move in, and after five years, you start to pay interest on the Government loan. The new property you’re buying must be your only residence.

The Mortgage Guarantee Scheme was set up to support households who can’t get a mortgage because of the reduced availability of 95% Loan-To-Value products caused by the COVID-19 pandemic. It’s intended to help existing homeowners looking to move and require a 95% Loan-To-Value mortgage.

It’s available across the UK on properties with a purchase price of £600,000 or less, where a borrower has a deposit of 5%. If you already own your own home, you could still be eligible for this scheme, but you must sell your existing property before completing a new purchase.

Help to Buy is not available to people looking for a Buy to Let mortgage. Visit our Buy to Let page here.

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Help to Buy equity loan process

Mortgage Calculator

moneyQuest complete the Help to Buy calculator to ensure you meet the affordability criteria

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Agreement

moneyQuest obtain an Agreement in Principle from a Help to Buy Lender

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Information Form

moneyQuest help you to complete your Property Information Form

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Authority to proceed

The Help to Buy Agency issue an Authority to Proceed

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Authority to exchange

Your solicitor applies for an Authority to Exchange from the Help to Buy agency

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Authority verified

The Help to Buy Agency issue an Authority to Exchange

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Authority to complete

Your solicitor applies for an Authority to Complete from the Help to Buy agency

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How much can I borrow?

Find out a rough estimate on your repayments

How much stamp duty will I pay?

Find out how much you’ll need to put aside for stamp duty.

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Types of Protection

Whatever your circumstances may be, use the full moneyQuest service and we’ll do all the work for you.

Life Insurance

We know that looking after your loved ones is extremely important to you and you want to know that they are looked after if the worst happens.

At moneyQuest we aim to find the best insurance policy to suit your needs.

Talk to a personal adviser about how our policies can help you on 01268 644 160.

Critical Illness Cover

moneyQuest can offer you critical illness cover so that you can focus on your health rather than your finances, if you were seriously ill.

Income Protection

No-one can predict the future, it’s important to make sure that you can pay your mortgage if you have an accident or illness which means you are unable to work.

We can help you plan for the unexpected, let us help you make sure that everything will be okay once any sick pay period ends.

As with all insurance policies, conditions and exclusions will apply.

Not sure which type of mortgage is right for you?

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