The help to buy end data could change at any point so please check for current updates.

When does help to buy end?

The help to buy scheme will end in 2023 but in 2021 there will be a new eligibility criterion which will restrict over 35% of people who had taken out the help to buy scheme prior. After 2023 the Government will not create a similar scheme to replace the help to buy scheme.

The help to buy scheme will only be available for first-time buyers from 2021 and there will be new caps on the house prices but this will now be based on the different regions.

The new regional price caps will now be set at 1.5 times the regional average first-time buyer price currently forecast. There will be a £600,000 maximum price cap in London.

The Government has tried to calm nerves by saying they will work with mortgage lenders to ensure that more 95% mortgages are available once the government help to buy scheme comes to an end.

The government also mentions the effect the help to buy scheme has had since its introduction in 2013. They point towards the increased amount of 95% mortgages which first-time buyers can now access.

They also point towards the increase in available housing which is due to the help to buy scheme encouraging developers to build more homes.

It remains to see how the markets will return and how many products first-time buyers will be eligible for once the help to buy ends.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.