Help to Buy: Equity Loan was a government loan towards the price of a new-build home in England. It has closed to new applications.
It was for buyers of new-build homes from registered builders, within regional price limits, and in its final version only for first-time buyers.
You paid a deposit, the government lent a share of the price as an equity loan, and a mortgage covered the rest. The loan was interest-free for its first years, after which interest fees began, and it was repaid as a share of the home’s value rather than the amount borrowed.
Buyers who still hold one owe a share of the home’s value when they sell or repay, so the amount rises or falls with the market. Your First Home, a new equity loan for first-time buyers of new-build homes in England, works much as it did but is not open yet, so see what is open now and the rules of each.
Each rule in its primary source's own words, with the date it applies from.
Help to Buy: Equity Loan closed to new applications on 31 October 2022.
. Start date: the date the source states.Help to Buy: Equity Loan 2021-2023 closed to new applications on 31 October 2022. Any transactions were to be completed by 31 March 2023, but a homebuilder could apply for an extension up to 31 May 2023 to allow purchasers to complete the buying process.