Am I eligible for Help To Buy?
You can get an equity loan if you're:
- A first time buyer
- An existing homeowner
- Buying a new-build home that costs less than £600,000
This scheme is only available if you live in England.
There are similar schemes available in Scotland, Wales and Northern Ireland.
If you're buying a new home with a Help to Buy equity loan you cannot:
- Own any other property anywhere else in the world
- You also need to:
- Be a UK resident
- Have a valid National Insurance Number
- Not have another active cash ISA alongside your Help to Buy ISA.
To be able to get the government bonus on your Help to Buy ISA, your property must be:
- In the UK
- Your only property
- The property you are going to live in
- Worth up to £250,000 outside of London
- Worth up to £450,000 in London
- Bought using a mortgage
You can use a Help to Buy ISA as well as a Help to Buy equity loan, as long as you meet all the criteria for both schemes.