Help to Buy

Move with just a 5% deposit using Help to Buy

Help to Buy available across England & Wales

Help to Buy is a Government-backed equity loan scheme that aims to make mortgages more readily available to those who cannot afford a large deposit.

Available to first-time buyers and people already on the property ladder, the Help to Buy scheme requires just a 5% deposit and a mortgage of up to 75% of the value of the property.

So you pay just 80% of the property price now, and the remaining 20% is provided by a Government equity loan. This is interest free for the first 5 years which could make your monthly mortgage repayments lower.

Help to Buy is open to everyone - whether you’re a first-time buyer or looking to move up the property ladder.

About Help to Buy


Help to Buy scheme
Help to Buy scheme example


  • You will only need a minimum 5% deposit
  • Available on all Persimmon homes in England up to £600,000 and up to £300,000 in Wales
  • Help to Buy equity loan is available to all types of home buyers - existing homeowners can take advantage of our Home Change scheme**
  • No household annual income limit
  • Help to Buy equity loan is only available on new-build properties
  • The Government will lend you up to 20% of the value of your property through an equity loan. This is interest free for the first 5 years. This can be repaid at any time or on the sale of your home
  • You will only need to secure up to a 75% mortgage – qualifying for some of the best rates available
  • 5% deposit + 20% equity loan + 75% mortgage = 100% home ownership

Help to Buy next step

Search for a new home and once you have found one that you are interested in contact the development to arrange an appointment or visit during opening hours.

Help to Buy customer testimonials

Hannah's story - First Time Buyer

Roger's story - Existing Homeowner

 

Help to Buy FAQs

Where is the scheme available?
Help to Buy is available across all Persimmon developments in England on homes up to £600,000 and up to £300,000 on homes in Wales.

Can you clarify the equity loan element?
The Government will provide you with an equity loan up to 20% value of the property. This loan is interest free for the first five years. From year six a fee of 1.75% is payable and will rise annually by RPI inflation plus 1%.

What are the repayment terms of the equity loan?
You can repay the loan any time within the first 25 years (or the terms of the mortgage), or when you sell the property.

Is the scheme available on pre-owned homes?
The Help to Buy equity loan scheme is only available on new-build homes like those built by Persimmon.

Can I use the scheme if I already own a home?
The Help to Buy scheme is available to both first-time buyers and existing homeowners. Our Home Change scheme can help sell your property for you.

Is the scheme available as a buy-to-let option?
The Help to Buy scheme is only available to purchasers using the property as their main residence.

What types of mortgage are available with Help to Buy?
Repayment mortgages are the only option with this scheme.

Where can I get financial advice from?
Persimmon can put you in touch with a list of recommended financial advisers who can assist you every step of the way.

Help to Buy related links:
Help to Buy equity loan terms and conditions

Help to Buy (England) Equity Loan
The Help to Buy equity loan scheme has specific terms and conditions and is subject to affordability criteria as defined by the Homes and Communities Agency. Help to Buy equity loan scheme is available on all plots in England, with a full purchase price up to £600,000, subject to status, terms and conditions apply. Help to Buy equity loan eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). The registered provider will hold the second charge on the property. Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Applicants must obtain their conventional mortgage from a qualified lending institution (e.g. a bank or building society). For the first five years there is no fee charged on the equity loan component. At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be uplifted by RPI +1% p.a.

Help to Buy (Wales) Equity Loan
The Help to Buy (Wales) equity loan scheme has specific terms and conditions and is subject to affordability criteria as defined by the Welsh Government. Help to Buy (Wales) equity loan scheme is available on all plots in Wales, with a full purchase price up to £300,000, subject to status, terms and conditions apply. Help to Buy (Wales) equity loan eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). The registered provider will hold the second charge on the property. Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Applicants must obtain their conventional mortgage from a qualified lending institution (e.g. a bank or building society). For the first five years there is no fee charged on the equity loan component. At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be uplifted by RPI +1% p.a.

**Available on selected plots subject to status. Terms and conditions apply.

A professional legal adviser is required to carry out the legal formalities of buying the home and to represent your interests. Persimmon can provide you with a list of recommended solicitors and/or financial advisers as necessary. Persimmon cannot advise you on a mortgage. The Help to Buy equity loan scheme is subject to availability and may be withdrawn at any time without notice. Not to be used in conjunction with any other purchase assistance scheme, offer or promotion. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE, YOUR EQUITY LOAN OR OTHER DEBT SECURED ON IT. For full details on the Help to Buy Scheme please see the Government's most recent document.