Help to Buy Mortgage calculator

What is the Help to Buy: Equity Loan?

The Help to Buy: Equity Loan scheme has been designed to help buyers who are looking to get onto the property market. Provided you have a deposit of at least 5%, the government will lend up to 20% of the value of the property, meaning you'll need a mortgage for the remaining 75%.

The Help to Buy: Equity Loan is only available on new homes up to the purchase price of £600,000, depending on location. There is no interest to pay for the first five years but after that you will be charged a fee of 1.75% based on the value of the loan. This fee rises annually according to any increase in the Consumer Price Index (CPI) plus 2%.

In order to get the most accurate results from the Help to Buy Mortgage Calculator, it's important to consider how much deposit you have available, taking into consideration other property purchase costs.

How to use our Help to Buy Equity Loan Calculator

The first step is to use the sliding scale to enter the value of the property: this will indicate how much the government may be able to lend based on your deposit and is calculated on the basis that the government will offer a loan equating to 20% of the total purchase price.

1. Enter the value of the property

The first step is to use the sliding scale to enter the value of the property: this will indicate how much the government may be able to lend based on your deposit and is calculated on the basis that the government will offer a loan equating to 20% of the total purchase price.

Our repayment calculator will also reveal the amount of mortgage required based on 75% of the property's purchase price, and this is the mortgage amount you will require.

2. Work out your typical monthly repayments

Having worked out your maximum purchase price based on your deposit; you can now go on to work out what your typical monthly repayments would be. This is based on the amount of mortgage you will be borrowing. While this is prepopulated from your results, you can also enter an amount, which is useful if you want to see how your monthly repayments could be affected.

To calculate this figure, you must select the interest rate and the mortgage period. You can do this via the sliding scale, however it's important to note that both these factors will affect your repayments.

3. Done!

You’ll then be shown how much your mortgage repayments are likely to be if you buy a new build home from us.

It's worth mentioning that you need to be able to comfortably afford the repayments, so try not to stretch your funds too far and make sure your budget allows for other eventualities.

This mortgage repayment calculator is intended as a guide only and does not take into account other fees that you will be accountable for when taking out a mortgage. For advice and guidance, you should speak to an independent mortgage broker/advisor who is authorised to provide financial advice based on your specific circumstances.

For more information, visit the Help to Buy scheme page. Alternatively, get in touch with our helpful team who will be only too happy to help you find your new home.

Your house may be repossessed if you do not keep up repayments on your mortgage.

This does not constitute financial advice. We recommend you obtain advice from an independent mortgage broker. We have recommended brokers who specialise in new build and Help to Buy, the details of which are available at each of our sales centres.