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Help to Buy Properties in London

For prospective buyers, saving up enough money for a deposit is often the biggest hurdle to getting on the property ladder, making homeownership seem like an impossible dream, particularly in London where property prices are far higher than in the rest of the country.

The government has made taking those first steps a little easier with its Help to Buy scheme. When you put down a deposit of as little as 5%, you can get an equity loan from the government for up to 40% of the property price, making it easier to afford your dream home.

For example, if you want to purchase a property for £400,000, you could put down a 5% deposit of £20,000. You could then get a government equity loan of 40%, which is £160,000, and the rest would be made up with a 55% mortgage from a commercial lender, at £220,000.

Help to Buy is available for both first and second-time buyers who do not currently own a property either in or outside of the UK. The property you’re looking to buy must be a new build home, up to the value of £600,000, as long as it’s not intended to be used as a buy-to-let property.

There are lots of Help to Buy properties available across London, so no matter where in the city you’re looking to purchase, you’re sure to find the perfect home for you.
 

Help to Buy in London

To make your property search easier, we’ve put together a list of Help to Buy properties in London, broken down by area. Read on to find out which region will best suit your needs, and browse Help to Buy homes in London.
 

Central London

Central London is a bustling metropolis, and the perfect place to purchase a Help to Buy property if you’re looking to live in the thick of a thriving, modern city. The innermost part of the UK’s capital city, central London includes the City of London, Westminster, Holborn and Finsbury, as well as the innermost parts of other districts including Camden, Islington, Hackney, Chelsea and Wandsworth.

Help to buy properties available: None currently available
 

North East London

North East London is an area which has seen massive regeneration over the last few years, as large parts of the region such as London Docklands and the Thames Gateway played host to the 2012 Olympic Games. As it’s located slightly outside of the most central part of the city, it’s a more affordable region in which to buy a home, making it perfect for those looking to utilise Help to Buy in east London.

Help to buy properties available: Explorer’s Wharf, Lansbury Square, Legacy Wharf, Beckton Parkside, Lime Quarter
 

North West London

North West London covers a diverse range of regions within the city, including some of the most sought-after postcodes in the city. Ideal if you’re looking for a little more space than a property in central London can offer, NW London includes the charming area of Hampstead, the cultural hub of Camden, charming Kentish Town and affluent St John’s Wood.

Help to buy properties available: New Avenue
 

South East London

South East London has benefited from much regeneration over the last decade, making it the perfect area in which to buy a house. Housing is far more affordable south of the river than it is in many other areas of the city, meaning it’s a popular area for young families and young professionals, who take advantage of cheaper housing prices and excellent amenities. SE London includes areas like Bermondsey, Vauxhall, Crystal Palace and Lewisham, where there are plenty of Help to Buy homes available.

Help to buy properties available: Elmington Green, The River Gardens, Maybrey Works, Battalion Court, Greenwich Millennium Village
 

South West London

South West London is a diverse area which includes a range of vibrant communities, full of green spaces and quality local amenities. The SW London postcode area is comprised of nine boroughs and includes the up-and-coming region of Clapham; Battersea, which is currently undergoing regeneration; Chelsea, which is renowned for its expensive property prices; and Wimbledon, which has more to it than tennis. There are also Help to Buy homes in Croydon, a large commercial town on the edge of Sussex. With such a wide range of communities in this area, there’s plenty of different kinds of properties available under the Help to Buy scheme from cosy flats to suburban semi-detached houses.

Help to buy properties available: Lexington Gardens at The Residence, Viewpoint, Acton Square

Have a question?

If you need advice for first-time buying in London – or if you’re looking for a 5* rated mortgage or remortgage advice – don’t hesitate to contact us today.

We’re experts on all things mortgage-related (and our services are always 100% free).

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