Help to Buy equity loan in 2026: England closed, Wales open until March 2027

The Help to Buy equity loan is a government loan that topped up your deposit on a new-build home. It is now closed to new applicants in England but remains open in Wales, where applications must be submitted by 31 March 2027. This reference is dated and limited to the rules verified against GOV.UK and GOV.WALES on 11 August 2026.

England: the closed scheme and existing loans

England's scheme closed to new applications at 6pm on 31 October 2022, with final legal completions due by 31 March 2023 (extendable to 31 May 2023). GOV.UK states: "You can no longer apply for a Help to Buy: Equity Loan for properties in England." No 2026 changes to the scheme have been published.

Existing English loans are unaffected by the closure. The loan is interest-free for the first five years; from the fifth anniversary, interest of 1.75% a year applies on the original loan amount, rising each April by CPI plus 2% (for 2021-2023 loans) or RPI plus 1% (for 2013-2021 loans). A £1 a month management fee applies until the loan is repaid.

Wales: open until 31 March 2027

Help to Buy - Wales accepts applications until 31 March 2027, for first-time buyers and home movers with a 5% cash deposit. The equity loan is up to 20% of the purchase price (minimum 10%), and you must take a repayment first-charge mortgage of at least 25% of the price; interest-only mortgages are not permitted. The home must be new-build, bought through a builder registered with the scheme, priced at £300,000 or less, and meet an EPC rating of B or better. Leasehold houses are excluded, but leasehold flats may qualify.

Wales uses the same interest structure as England: five years interest-free, then 1.75% from year six, rising each April by CPI plus 2%, with a £1 a month management fee. The loan term is normally 25 years.

Repaying and staircasing

You can repay part of the loan (staircasing) in chunks of at least 10% of the home's market value at the time, with an RICS market valuation required; the remaining loan must stay at least 5% of the market value. Partial repayment reduces future interest. The loan must be repaid in full when the loan term ends (normally 25 years), when your repayment mortgage is paid off, or when the home is sold - on sale you repay the loan percentage of the market value (or of the sale price, if higher).

Fees and administration

England's current administration fees are £200 for a full repayment or redemption, £200 for part repayment (staircasing), £115 for a remortgage, £50 for structural alterations, £50 for letting, and £115 for a transfer of equity. The scheme administrator is Lenvi Servicing Limited (previously Equiniti Gateway Services), FCA-registered; existing borrowers contact them on 0300 123 4123.

How Help to Buy fits with other schemes

The Help to Buy equity loan is separate from the Forces Help to Buy scheme (for service personnel, still open in 2026) and from First Homes (which offers 30-50% discounts on new homes in England). A Lifetime ISA can contribute to a first home up to £450,000 with a 25% bonus (up to £1,000 a year) and must be bought with a mortgage; the ISA rules do not state whether the bonus can be combined with an equity loan, so check with the scheme operator. Shared ownership is a separate route, and in Wales the schemes are listed separately with no published combination rule.

Key facts

Where to get help

Existing borrowers: GOV.UK's "manage your Help to Buy equity loan" guidance covers remortgaging, structural alterations, subletting and changes of ownership, and the administrator handles repayments. Prospective buyers in Wales: the Help to Buy - Wales buyers guide and application form are on GOV.WALES, and applications go through Help to Buy (Wales) Ltd using a Help to Buy trained conveyancer.

Source: GOV.UK - Help to Buy equity loan

Source: GOV.UK - Help to Buy equity loan statistics to 31 March 2023

Source: GOV.UK - Paying interest on your Help to Buy equity loan

Source: GOV.UK - Help to Buy equity loan administration fees

Source: GOV.WALES - Help to Buy Wales

Source: GOV.WALES - Help to Buy Wales buyers guide

Source: GOV.UK - Lifetime ISA