Help to Buy London
Help to Buy your perfect new home in London
Help to Buy London is available to both existing home owners and first time buyers on properties up to £600,000 in London. Using the scheme, purchasers only need a 5% deposit and a 55% mortgage to qualify for a 40% interest free equity loan backed by the UK Government.
The equity loan is interest free for the first 5 years, after which there is an annual fee of 1.75% of the outstanding equity loan. This is increased annually by RPI plus 1%. The equity loan must be repaid after 25 years, or earlier if you sell your home.
Q. How do I know which Bellway London developments I can choose from?
A. Help to Buy London is available on properties in London which meet the Government’s eligibility criteria. Developments running the scheme are identified on our website by the Help to Buy logo. You can find out more information on each development by contacting the relevant sales team.
Q. Can I get help to sell my current home and still use Help to Buy London?
A. Bellway offer a free Express Mover scheme on selected developments across London to help to sell your current home and get you moving fast.
To take advantage of Help to Buy London search for your new home and speak to a member of our sales team.
Help to Buy London Terms and conditions
Pictures for illustrative purposes only.
Help to Buy London is subject to the Homes and Communities Agency’s (HCA) terms and conditions and is available on new build homes up to £600,000 to customers where the property represents their only residence.
Not available on second, additional homes, buy-to-let or let-to-buy properties. HomeBuy agent eligibility check required.
The equity loan is interest free for the first five years and needs to be a minimum of 10% of the purchase price up to a maximum of 40%.
After five years, an annual fee of 1.75% of the outstanding equity loan is charged. This is increased annually by RPI plus 1%. The equity loan must be repaid after 25 years, or earlier if you sell your home.
A monthly management fee of £1 is payable by the equity loan borrower by direct debit, from the start of the loan until it is repaid. The management fee and interest fees are not capital repayments to the equity loan and do not reduce the amount owing.
Help to Buy London operates under terms and conditions imposed by the HCA and may be subject to change. Please visit www.helptobuylondon.co.uk for further information.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it