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The Government’s flagship affordability scheme, Help to Buy, launched back in April 2013 in order to encourage first-time buyers to enter the property market. The Help to Buy scheme has since contributed to the purchase of over 300,000 properties (Source: gov.co.uk).

Up until March 31 2021, buyers were able to utilise the scheme to purchase a new-build property worth up to £600,000 with a 5% deposit and a 20% government-backed loan (40% in London). The scheme has now been revised and the last date homebuyers can reserve homes and apply for the Help to Buy: Equity Loan is 31 October 2022. This should allow enough time for homebuyers to legally buy their homes before the scheme ends on 31 March 2023.

The Government’s flagship affordability scheme, Help to Buy, launched back in April 2013 in order to encourage first-time buyers to enter the property market. The Help to Buy scheme has since contributed to the purchase of over 300,000 properties (Source: gov.co.uk).

Up until March 31 2021, buyers were able to utilise the scheme to purchase a new-build property worth up to £600,000 with a 5% deposit and a 20% government-backed loan (40% in London). The scheme has now been revised and the last date homebuyers can reserve homes and apply for the Help to Buy: Equity Loan is 31 October 2022. This should allow enough time for homebuyers to legally buy their homes before the scheme ends on 31 March 2023.