Help to Buy scheme has ended, what next?
April 17th, 2023
The Governments Help to Buy scheme (also known as the Help-to-Buy Equity Loan) ended on the 31st March 2023, although the scheme closed to new applicants on the 31st of October 2022.
The scheme enabled first time buyers with a 5% deposit to obtain an equity loan that covered between 5% and up to 20% of the property’s purchase price, with the percentage rising to 40% in London.
Forbes Solicitors reported that between 1st April 2013 and 30th June 2022, 369,104 properties were purchased under the scheme. It is rumoured that Rishi Sunak is working to reboot Help to Buy, as it was a popular option for first time buyers – we hope this is true.
In the meantime, we have put together a list of alternative options that can help you buy your first home.
