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Help to Buy is available on homes up to a maximum value of £600,000. You will need a deposit of at least 5% of the value of your chosen home.
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Help to Buy (London)
The new Help to Buy: Equity Loan scheme (the “scheme”) was launched on 1 April 2021 by the government to help first-time buyers, over the age of 18 get onto the property ladder. Any loan given by the government under the scheme must be applied towards the cost of purchasing a newly built home from a homebuilder registered for the scheme, which includes Cala.
If you are eligible to take advantage of this government scheme, our Help to Buy calculator can help you estimate how much additional funding you would need to move into your new Cala home.
Use Help to Buy (London) to move to your Cala home
The last date homebuyers can reserve homes and apply for the Help to Buy: Equity Loan is 31 October 2022. This should allow enough time for homebuyers to legally buy their homes before the scheme ends on 31 March 2023.
Help to Buy (London) is a scheme aimed at first-time buyers looking to move onto the property ladder in the capital.
So long as you can raise a 5% deposit, the Government will provide an equity loan of up to 40% of the property value – that's double the 20% offered under Help to Buy in England and is designed to reflect higher property prices in the capital.
Help to Buy (London) is available to first-time-buyers on new-builds worth up to £600,000. Please visit the Government’s Own Your Own Home website for more information.
Equity Loan Assistance from the Government
How does Help to Buy work?
With the help of London Help to Buy Equity Loan Assistance Scheme, you could soon be able to own your dream Cala home.
Find out if you're eligible
We can put you in touch with an independent mortgage advisor to help you find out if you qualify and help you apply.
Receive equity loan assistance
You could receive up to 40% of the purchase price. You will need to fund the rest of the purchase price with a mortgage.
Own 100% of your home
The equity loan is interest free and can be repaid at any time. On sale of your home, you will need to pay back the percentage of equity still outstanding.
Help to Buy (London) calculator
Our Help to Buy mortgage calculator can give you a quick indication of the level of any loan which you may be eligible for under the scheme. The calculator will take into account your preferred location, your deposit amount, and the price of the property you’re looking to buy.
Use the Help to Buy calculator below to work out what size of additional deposit and repayment mortgage you’d need to move into your Cala home in London or Greater London.
The price cap for overall property value that you can purchase in London or Greater London is £600,000.
Homes England Help to Buy: Equity Loan (2021 – 2023) Guidelines
Your home may be repossessed if you do not keep up repayments on your repayment mortgage, equity loan or other loans secured against it.
Help to Buy: Equity Loan (2021-2023): Eligible homebuyers can borrow 5% to 20% (40% in London) of the market value of a newly built home. Regional property price limits will apply. The equity loan is interest free for 5 years; monthly interest payments start at 1.75% and rise each year in April by the Consumer Price Index (CPI) plus 2%. Pay a £1 monthly management fee from the start. Repay your equity loan at the end of your mortgage or equity loan term, when you sell your home or any time before. The lender, Homes England, secures the equity loan as a second charge on your home. Help to Buy is subject to eligibility, terms and conditions: www.helptobuy.gov.uk.
