As long as you are buying a new-build home and meet the eligibility criteria you can apply for a government-funded equity loan for up to 20% of the property’s value in England and Wales, 15% in Scotland and 40% in London. You’ll then need to pay a minimum deposit of 5% and raise the rest of the property’s purchase price through a mortgage.
In England and Wales, there are no equity loan interest fees to pay for the first five years of owning your own home. With the Scottish Help to Buy scheme, no interest is payable for the lifetime of the equity loan. In all cases, you'll need to repay the loan in full, either after 25 years or when you sell your home, whichever is sooner.
To buy a home using a shared equity loan, you’ll need to contact the Help to Buy agent in your area. Visit the government’s shared equity pages for details of your local agent and other information you need to know about the scheme.