Help to Buy Your New ‘Bell Home’

Help to Buy is the government-backed initiative aimed at helping homebuyers across England purchase a new-build home with as little as a 5% deposit.  Those looking to buy a new home (whether first time buyers or existing home owners) can use the Help to Buy scheme to buy a home from Bell Homes, up to £600,000 in value.

How it works:

  • Help to Buy is available to existing homeowners as well as first time buyers.
  • You only need a minimum 5% deposit to qualify
  • The Government will lend you up to 20% of the value of your property through an equity loan
  • The loan can be repaid at any time or on the sale of your home
  • You will only need to secure up to a 75% mortgage from a bank or building society
  • Only available on new build homes
  • There is a maximum home purchase of £600,000
  • Help to Buy is only available on new homes in England


Worked example based on a £200,000 purchase price

You arrange mortgage (75%) £150,000
Deposit (5%) £10,000
Government equity loan (20%) £40,000
Total Purchase Price:  £200,000



When does the scheme start?

The equity loan element of Help to Buy comes into operation on 1 April 2013.

How does it work?
Buyers will be provided with an equity loan of up to 20% of the value of the property. This will be interest free for the first five years.

What happens after the five years?
After this period, a fee of 1.75% is payable on the equity loan, this will rise by RPI inflation plus 1%.

When will I have to pay back the loan?
The loan can be repaid at any time within the first 25 years (or the terms of mortgage), or alternatively on the sale of the property.

Why has Help to Buy been set up?
The Government is continuing its pledge to help more people across the country become homeowners. It is also concerned with increasing the supply of low-deposit mortgages and new housing.

Am I able to buy a house under the new scheme?
If you can raise a 5% deposit you will be able to buy a new home under Help to Buy.

What is the maximum property purchase price?
The maximum home purchase price is £600,000.

Is the scheme just for first-time buyers?
Help to Buy is available for both first-time buyers and existing homeowners.

Can I use Help to Buy for a buy-to-let property?
The scheme is only available on properties that will be occupied by the person or persons who have taken out the mortgage.

Am I able to get an interest only mortgage using Help to Buy?
The scheme is only available in relation to capital repayment mortgages.

If you want further information on Help to Buy or you are interested in any of our developments please call our sales team on 08458 800922 or use our Contact Page.

Further information and ‘terms and conditions’ are available on the Help to Buy website.

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