London Help to Buy – Equity Loans

If you live within a London borough, the Government lends you up to 40%* of the cost of your new build home, so that you’ll only need a cash deposit from 5% and a 55% mortgage to make up the rest.

London Help to Buy – Equity Loans

The equity loan is interest free for the first five years, however, a £1 per month management fee is charged from the date of purchase. After that, you will pay a fee of 1.75%, rising annually by the increase (if any) of the Retail Price Index (RPI) + 1%.

The equity loan can be repaid at any time within 25 years (or the term of the mortgage), or on the sale of the property.

London Help to Buy example

Am I eligible?

  • The scheme is open to both first time buyers and existing home owners.
  • There is no maximum household income.
  • You can purchase a property with a maximum value of £600,000.
  • You will need a minimum 5% deposit to qualify.

To apply you will need to find a property through a participating registered builder and complete their relevant paperwork.

For more information and to talk to one of our advisers, please complete the below form.


*Inside of London. For new builds outside of London see our separate help to buy advice.