What is Help to Buy?
The London Help to Buy scheme means first time buyers and existing homeowners in London boroughs can buy a new home with just 5% deposit and an interest free* Government backed loan of up to 40% of the cost of a new build home. London Help to Buy is currently available on all Taylor Wimpey developments in London boroughs up to the value of £600,000.Interested? Watch the video to learn more.
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The Government backed equity loan of up to 40% of the property’s value is interest free (in England and Wales) for the first five years.
You can repay the loan at any time or on the sale of your home. To find out how much interest you'll pay after 5 years, take a look at our Help to Buy Frequently Asked Questions.
Help to Buy FAQ
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Deposit
This is your lump sum contribution. Your deposit must be a minimum of 5% of the property price.
Help to Buy equity loan
This is a loan from the government who will contribute up to 40% of the cost of a London home. Interest is payable after 5 years.
Mortgage
The mortgage value is calculated as 4.5 times the total annual income.
Terms and conditions
The Terms & Conditions of all Taylor Wimpey offers and schemes are provided below. If you have any queries, please contact the Sales Executive at the relevant development.
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) Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. For the first five years there is no fee charged on the equity loan component. At the start of year six a fee of 1.75% is payable on the equity loan, which rises annually by RPI inflation plus 1%. The equity loan is provided by the HCA and held as a second charge. Terms and conditions apply and full details will be provided on request. This offer is subject and only available on selected developments and properties in England only. It is not offered with any other promotion. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Help to Buy Scotland
Eligible applicants will be offered an equity loan of up to a maximum of 15% of the purchase price (based on the open market value) Applicants are required to fund at least 85% of the purchase price by means of a conventional mortgage, savings and any deposit where required. The equity loan is provided by the Scottish Government and held as a second charge.
At present there is no set deadline by which purchasers must repay to Scottish Government the equity support which they receive through the Help to Buy (Scotland) Scheme.
Terms and conditions apply and full details will be provided on request. This offer is subject and only available on selected developments and properties in Scotland only. It is not offered with any other promotion.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Help To Buy Wales
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).
Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. For the first five years there is no fee charged on the equity loan component apart from an administration fee of £1 per month. At the start of year six a fee of 1.75% is payable on the equity loan, which rises annually by RPI inflation plus 1%. The equity loan is provided by HtBW with funding provided by the Welsh Government and is held as a second charge. Terms and conditions apply and full details will be provided on request. This offer is subject to status and is only available on selected developments and properties in Wales only up to the value of £300,000. It is not offered with any other promotion.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Ways to buy
Help to Buy
With Help to Buy you only need a 5% deposit, making it easier to buy a new home.
Ways to buy
Part exchange
Part exchange your existing home for a brand new one. No chain, no estate agents, no stress!
Ways to buy
Easymover
Let us help make your moving experience stress free with our easymover scheme.
Terms and conditions apply. Please visit taylorwimpey.co.uk/terms for full details.
