Help To Buy

If you’re a first-time buyer, the government’s ‘Help to Buy’ scheme could get you one step closer to moving into the Berkeley DeVeer home of your dreams.

How does it work?

With as little as 5% deposit, the government will lend you another 20% for a new-build home up to the price of £228,100 in Yorkshire, £186,100 in the North East and £224,400 in the North West. This means you’ll only have to apply for a 75% mortgage while owning 100% of your new home.

The equity loan is interest free for the first five years, and you can pay it back within 25 years living in the property or if you ever decide to sell your home. 

In summary:

  • You only need a 5% deposit

  • Available for new build homes only

  • Available to first-time buyers only

  • The government will lend you up to 20% of the value of the new property

  • You will own 100% of your home

  • Equity loan is interest free for five years

Help to buy calculator

Minimun value is 100000.
£
Minimun interst rate is 0.75%.
%
Property Value

Estimated Monhtly Mortgage repayment£1,193
5% Deposit£16,700
20% Help to Buy Equity loan£133,600
75% Mortgage£183,700
Property value£334,000

Help To Buy FAQS

How do I find my nearest Berkeley DeVeer office?

You’ll find details of your local Berkeley DeVeer office in the contact page.

Who is eligible for Help to Buy?

The Help to Buy Equity Loan scheme is available to both first time buyers and existing home owners. You will need a minimum 5% deposit to qualify. There is no maximum household income to qualify for the scheme, and you can purchase a property with a maximum value of £600,000 in England, £300,000 in Wales and £200,000 in Scotland. The Help to Buy Equity Loan scheme is exclusive to new-build homes only. 

How long will the Help to Buy scheme run for?

The popular Help to Buy Equity Loan scheme has been extended until 2021 through a further £8.6billion in government funding - read more here.

Is Help to Buy a shared ownership scheme?

No. With Help to Buy Equity Loan, you purchase 100% of your home and legally own 100% of your home. 

How do I find out about events held by Berkeley DeVeer in my area?

Just contact your local Berkeley DeVeer office and they’ll let you know what’s coming up.