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Many purchasers of new build homes are taking advantage of Government Help to Buy schemes which means you can purchase a new home with a deposit as low as 5%.

The conveyancing team at Hegarty Solicitors are pleased and proud to hold Stakeholder Status with Help To Buy and can guide you through the process of purchasing your new home through this scheme.

Get a quote online

Please note: The Help to Buy scheme is due to end on the 31st March 2023, with no applications being accepted after 31st October 2022. 

 Find out more about the Help to Buy scheme ending here

How does a Help to Buy: Equity Loan work?

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

Is Help to Buy just for first-time buyers?

You do not have to be a first-time buyer to be eligible for the Help to Buy scheme. Equity loans are available to first time buyers as well as homeowners looking to move. The home you want to buy must be newly built with a price tag of up to £600,000. You also can’t own another home at the time of buying through the Help to Buy scheme.

How does buying through the Help to Buy Scheme affect the purchase of a property?

The procedure for buying under the Help to Buy scheme can be complex and it is therefore very important that your solicitor is familiar with how the scheme works. In addition, when buying a new build house, buyers may purchase a property before construction has begun or before the property is completed, this may mean that contracts are exchanged before the property is built and therefore a fixed completion date may not be given.

The conveyancing process can be slightly different for new build properties and proper checks on planning permission for the property and development will be necessary along with checks that appropriate agreements are in place relating to the adoption of the roads and sewers, the access rights, and routes for other services.

If you are thinking of purchasing a new home through the Help to Buy scheme contact a member of our experienced conveyancing team today for more information.

Get a quote online

Repaying a Help to Buy Loan

If you have bought a property under a Help to Buy equity loan scheme, the amount you will have to repay is dependent upon the current market value of the property. There are several options when thinking about repaying your Help to Buy loan early:


When re-mortgaging a property bought under the Help to Buy scheme there are two options:

  • Remortgage the standard mortgage and keep the equity loan
  • Remortgage to encompass some or all of the equity loan by increasing your standard mortgage

It is important to remember that you may require consent to remortgage and there may be administration fees to pay to the administrators of the Help to Buy scheme.

Redeeming your loan

Redemption is the full repayment of your Help to Buy equity loan. You can redeem the loan by repaying it when you sell your property or repay the loan in full without selling, such as by using savings, a gift or by remortgaging.


Staircasing is opting to repay part of your equity loan without selling your property either by:

  • Staircasing without another loan being secured on your property or;
  • Staircasing by securing another loan on your property or increasing your standard mortgage


If you are thinking of moving house and redeeming a Help to Buy equity loan, contact our Help to Buy specialists Yvonne Dudhill and Natasha Downing for advice and a no-obligation conveyancing quote.

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Key contacts
Photo of Yvonne Dudhill

Yvonne Dudhill

Conveyancing Executive | Residential Coneyancing

Photo of Natasha Downing

Natasha Downing

Associate | Chartered Legal Executive | Residential Conveyancing

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