Savills Portugal

Since its inception Help to Buy has helped more than 300,000 people take steps onto the property ladder that otherwise would have seemed out of reach. There is just over a year left of the scheme and in that time we anticipate a steep rise in demand for new homes – those looking to buy their first home with the benefits of Help to Buy will need to act quickly and decisively to avoid missing out.

Buying your first home can be a daunting prospect. Over the last nine years, Help to Buy has made the process more manageable by reducing the size of deposit needed (from 10 per cent to 5 per cent) – one of the biggest obstacles for home ownership. The offer of an equity loan of up to 20 or 40 per cent of a property’s value, depending on location, has also increased the pool of properties people can afford.

First set up by the Government in 2013, the scheme began as a way of helping people purchase newly built homes. From April 2021, it was limited to first-time buyers and regional price caps were introduced. It will be ending in March 2023, meaning that anyone wishing to take advantage will need to have legally completed on their new build home by 31 March 2023. Our biggest tip for meeting this deadline is that completion doesn’t happen overnight – it can often happen months from placing your reservation fee.

While the countdown to the end of Help to Buy is certainly on, there is still time to find your dream home but you should start your search sooner rather than later while homes that qualify for the scheme are still available. Here’s a selection currently for sale and for more information you can view Savills Help to Buy or London Help to Buy Knowledge Hub