Help to Buy


The Help to Buy scheme is a government-backed incentive to encourage buyers to get onto the property ladder.

Lead Contacts

Rebecca Hempstead

Partner, Head of Residential Conveyancing

Get in touch

Carly Callaghan

Senior Associate, Solicitor

Get in touch

Help to Buy: ISA

First time buyers can enjoy the benefit of a Help to Buy: ISA. This offers you a 25% bonus on any sums saved in the account; provided you save a minimum of £1,600.00. There is a limit to the bonus of £3,000.00, meaning you can only save a maximum of £12,000.00 in the account. The accounts are available to each first time buyer, not each household, so if you are buying with someone else you could receive a government bonus of up to £6,000.00 towards your first home. You can save up to £200.00 per month into your Help to Buy: ISA account. you will receive the bonus upon the drawing down of the ISA. There is a limit to the bonus of £3,000.00, meaning you can only save a maximum of £12,000.00 in the account before the bonus stops increasing.

When you are close to exchange of contracts, you will need to provide us with your account closing statement and a first time buyer declaration. The monies you have saved will be transferred to your current account by your bank which can be used towards your deposit. We would then apply for your government bonus which can only be put towards your completion funds; the bonus cannot be used for the deposit due at exchange of contracts.

If you require further information please visit the Help to Buy ISA page.

The Help to Buy: Equity Loan

This is a scheme available to anybody purchasing a new build property on certain developments. It is an equity loan, meaning that there are no repayments due; the value of the loan rests in the value of the property at a fixed percentage. This means that the loan is only repayable after 25 years or on the sale of the property if earlier.

The government will lend you up to 20% of the cost of your newly built home (or up to 40% within Greater London).

You are only required to put down a 5% deposit, meaning the remainder can be covered by your mortgage.

Interest is charged after the first five years of owning your home.

Help to Buy: Equity Loan


On the sale of your property, if you borrowed the full 20% (or 40%) then 20% (or 40%) of the sale value will be taken and paid back to the government.

This scheme doesn’t just apply to first time buyers; but anybody purchasing a new-build property.

If you require further information please visit the Help to Buy Loan page.  You can also find details on how we can help with New Builds here.



Get in touch

If you have any enquiries please contact any one of our specialist team who would be pleased to advise you on your options. You can also contact your lawyer individually from ‘Our People’ using the link below.

Our People

    Disclaimer: Ellisons is firmly committed to respecting your privacy. Please read our privacy policy.