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Local advice for Help To Buy scheme

Posted onPosted on 13th Jul

The Government-backed Help To Buy scheme has helped thousands of buyers take a step onto or up the property ladder and purchase a new-build home.

With Help to Buy available across all Bloor Homes’ developments on properties up to £600,000, many buyers continue to take advantage of the scheme.

However, with some confusion around the eligibility of the scheme during and post lockdown, Michele Rose, of Bloor Homes Midlands, offers some answers to some commonly asked queries.

What is Help to Buy?

The Government Help to Buy Scheme means that the Government will lend you between 10% and 20% of the value of the property through an equity loan, which can be repaid at any time or upon the sale of your home. You will require just a 5% deposit and secure up to a 75% mortgage from a bank or building society. Equity loans are available to first time buyers as well as homeowners* looking to move to new homes in England up to the value of £600,000

Is Help to Buy still available during lockdown?

Yes. Whilst the buying process may be slightly different at the moment, Help to Buy is still available.

If I started the house buying process before lockdown, is my Authority to Proceed still valid?

You will need to confirm with your mortgage lender; however, some have committed to keeping existing mortgage offers open for three months.

If your Authority to Proceed has expired, you need to contact your Help to Buy agent and ask for an extension. You will also need to check that your mortgage offer will be valid if you have a new completion date.

Are desktop valuations being accepted during lockdown?

Although many lenders are now starting onsite valuations again, desktop valuations from main mortgage lenders are still accepted. Desktop valuations must be completed by a Royal Institution of Chartered Surveyors (RICS) surveyor. The valuations are valid for three months from the date of the report

Can I complete my purchase if I’ve exchanged contracts on a new home and have a Help to Buy loan agreed?

As long as you have a valid mortgage offer on the date of completion and can complete before 31st March 2021. If you need to extend your mortgage offer you need to contact your lender.

Can I use the scheme if I already own a property?

Yes, you can use Help to Buy if you are already a homeowner.

What type of mortgage will I need?

To use the Help to Buy scheme you can only use a repayment mortgage. Bloor Homescan put you in touch with a list of recommended financial advisers if you wish.

For more information contact our sales team who will be able to help – visit

Information on Help to Buy can be found here.