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Applications are now open for the government’s Help to Build scheme

An equity loan scheme that enables independent home builders with a 5% deposit to apply for a government loan. The loan can be between 5-20% of your total land and building costs in England – and up to 40% in London.

The loan is based on the estimated costs of buying the land and building your property. The total build costs cannot be over £600,000, or £400,000 if the land is already owned.

Applicants must plan to live in the property as their primary home when it’s finished.

You can only apply for Help to Build if you:

• Are 18 years of age or over
• Have a right to live in England
• Will live in the newly-built home as your only home

Application steps:

1. Secure a self build mortgage from a lender registered for Help to Build or through a broker
2. Apply for Hlep to Build through Homes England
3. If your loan is successful, you will receive an equity loan offer based on estimated costs
4. Once your home is complete, Homes England will pay the equity loan to the registered lender

If you accept the offer of an equity loan from Hlep to Build, you will have 3 years to buy the land and build your home.

The government is planning for the funding to be avaialble for 4 years but it may close sooner if scheme is popular and the £150m funding runs out.

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