Help to Buy Scheme
Help to Buy has ended in England and Scotland, but is still available in Wales until March 2025
Buyers must provide a 5% deposit and the scheme offers a shared equity loan of up to 20% of the purchase price with a price cap of £300,000. A repayment mortgage must be taken out to cover the remaining amount.
The good news is that there are still lots of fantastic and affordable borrowing opportunities that The Mortgage Brain can offer buyers.
You can still choose low deposit schemes from 5% of the purchase price, private equity loans and income boosters as well as green mortgages that offer a range of financial incentives including cash back.
Our advisers are fully up to date with all the information and can get applications underway super quickly.
Read more about the various options below and book a chat with our expert advisers to get your application underway.
Generation Home
Generation Home offers 2 methods that can be used together or separately, Income boosters and Deposit boosters.
Income boosters – an individual (or couple) can have up to 6 family members to be their income booster. They can choose to contribute a set amount each month or to cover the whole amount should the payment be missed. This can help maximise the amount of lending available to you.
Deposit boosters – these individuals DO NOT need to be related to you. They can choose to contribute towards your deposit.
Both boosters can GIFT the money or choose to INVEST the money and get it back (like an equity stake) but it’s protected at all times.
This type of mortgage is called a Joint Borrower Sole Proprietor (JBSP). Only the people buying the property go on the deeds, meaning the stamp duty is not affected by the boosters.
Available to First and Next Time buyers
Deposit Unlock
A 95% Mortgage to the customer
Developers pay a percentage of the purchase price to an “insurance pot” which reduces the risk to the lender. This means the developer is contributing to allow the buyer to take advantage of a slightly cheaper rate on a high LTV
Lenders are Accord, Newcastle and Nationwide
The maximum purchase price and property eligibility are subject to lenders’ criteria
Available to First and Next Time buyers
Green Mortgages
A type of mortgage that’s available on homes with an Energy Performance rating of Grade A-C which could be in the form of a cheaper rate, cash-back or other financial incentive from the lender.
Available to First and Next Time buyers
Own New Mortgages
For up to 95% of the purchase price, you only need a 5% deposit
A standard mortgage, but tailored exclusively for people buying new-build homes
Ideal for people with low deposits or more complex financial circumstances
You go on to own 100% of your new home
There is no cost to the homebuyer for using Own New
Mortgage guarantee scheme
If you are looking to buy with a 5% deposit on properties costing a maximum of £600,000, you will be able to apply for a 95% loan to value (LTV) mortgage with participating lenders offering a government backed mortgage guarantee scheme.
Available to first time buyers and existing homeowners who are looking to move.
The scheme is open until 30 June 2025.
Why choose The Mortgage Brain?
We have access to over 12,000 mortgage deals with hundreds of lenders
All our advisers are CeMAP qualified to find the most suitable mortgage for you and your circumstances
You can follow your mortgage application every step of the way via our online customer portal
We have thousands of happy customers and have a 5 star rating on Trustpilot and 4.9/5 on Google reviews
Your dedicated adviser will be with you every step of the way, from the initial consultation to the completion of your mortgage
What our customers have to say...
Are you ready to secure your mortgage deal?
Connect with one of our expert mortgage advisers to discuss the right mortgage for you. Click below to book a 30 minute, no obligation, appointment.