The Government confirmed in their last budget it does not intend to introduce a further Help to Buy scheme after March 2023 so that means 4 years left to get your 5% deposit saved and use the scheme. For lucky Londoners the purchase price cap remains at £600,000 when the new scheme starts in April 2021; all other regions will see the price cap reduced.
So, what do you need to know?
What is Help to Buy?
Help to Buy is a government scheme which helps buyers of new homes in England. The equity loan contributes up to 40% for (London) new homes; some key information is set out below.
How can we help?
Our property team are experts in the purchase of new build property and the Help to Buy Scheme. We can guide you through the Help to Buy process, terms and obligations and all aspects of your purchase with our experienced, efficient and friendly approach.
Rebecca Thomas is a Senior Associate in our Property team and has extensive experience of working in all areas of the London residential property market, including on several key developments in east London. Rebecca provides comprehensive advice in all areas of residential property law including leasehold, new build and off plan (developers and buyers). She is experienced in advising a range of clients including investors, developers, owner occupiers, offshore and domestic companies.
If you would like advice on the Help to Buy Scheme, or other residential property-related matters, please contact Rebecca on 0207 438 0991.
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.