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Help to Buy

Now’s the time to buy your dream home

The Government-backed Help to Buy scheme for can make purchasing your new Morris home all that easier. With as little as a 5% deposit required. The Help to Buy equity loan provides the perfect opportunity to get your foot on the ladder and allows you to buy a new home much sooner than you may have expected.



Who can use Help to Buy?

The Help to Buy scheme is now exclusive to First - Time Buyers, meaning it can no longer be used by previous homeowners. The scheme is aimed at helping people make their first step onto the property ladder and become a homeowner.

Is there a limit to the value of home I can purchase?

There's a limit on the price of the home you can purchase using Help to Buy. These price caps will vary depending on where in the county the home is located. The table here shows the maximum value of the homes available by location.

How does Help to Buy work?

Instead of financing the full 25% deposit yourself, with Help to Buy you pay a 5% deposit and the government tops this up with an equity loan of 20% of the overall purchase price.

You are then left with just 75% of the purchase price to mortgage, which will open you up to more affordable mortgage rates.

Buying brand new with Help to Buy

The Help to Buy scheme gives you the chance to buy a new build home that’s perfect for you and your family. With a new Morris home, you won’t have to worry about renovating your property once you move in.

Each and every one of our homes is finished to a high specification throughout. With spacious interiors, quality fixtures and the latest appliances, your new Morris home is a blank canvas you can truly make your own.

How does Help to Buy work?

I’m a first time buyer, what do the new changes mean for me?

As a first time buyer, you’ll be able to use the Help to Buy scheme but you’ll have a smaller selection of homes to choose from due to the regional price caps .

We want to buy a bigger or second home using the Help to Buy scheme, can I do this?

You won’t be able to utilise Help to Buy scheme unless you're a First -Time Buyer after the changes in 2021.

How does the equity loan work?

Although your mortgage repayments will include interest, you won’t be asked to pay any interest on your 20% equity loan during the first five years. You only need to repay your equity loan within 25 years or when you sell or remortgage the house, but you can choose to pay it back before then. find out more here: www.gov.uk/government/collections/manage-your-help-to-buy-equity-loan

Is a 95% mortgage better?

Not necessarily; with the government adding the 20% equity loan to your 5% deposit, you actually only need a mortgage for 75% and you still own 100% of your home. Essentially, Help to Buy allows you to benefit from a slightly lower mortgage, which can reduce your monthly payments.

How do I apply for Help to Buy?

We work with a number of independent advisors who specialise in new home sales who can help. This is a free service.

Can I buy a home using the scheme to sublet?

You won’t be able to sublet the home you’re buying, negating buy to let investing.

*based on eligibility criteria when borrowing

Help to Buy calculator

At Morris Homes, we understand that raising a deposit isn’t always an easy task, which is why we offer the Help to Buy scheme to each of our customers who are dreaming of moving into one of our new home developments. You can use our Help to Buy calculator to better understand how the scheme could help you towards owning the home of your dreams. Start your search by entering your chosen property’s price and we’ll take it from there.

Help To Buy
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The home you want, at the price you want.

5% Deposit
£0
20% Government Loan
£0

Make your money go further with Help to Buy. First time buyers or existing homeowners can buy a new home with just a 5% deposit and a 20% equity loan – available on new build homes within the varying regional price caps shown on this page. Easily find homes within your price range using our Help to Buy calculator.