Buyers must provide a deposit of a minimum of 5% of the full purchase price.
On Help to Buy South West the Government will lend you up to 20% of the value of a property in the form of an
equity loan. The loan itself is repayable after 25 years, or on the sale of the property if earlier.
You then need to 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.
The maximum you can borrow from Help to Buy in England is £120,000 (and up to £240,000 for London).
There is no minimum amount.
For the first five years of Help to Buy home ownership you will pay an initial monthly management fee of £1. This
continues until the loan is repaid. After five years you will be required to pay an interest fee of 1.75% of the amount
of your Help to Buy shared equity loan at the time you purchased your property, rising each year aer that by the
increase (if any) in the Retail Prices Index (RPI) plus 1%.