Get into the property market with as little as a 2% deposit
The Help to Buy Scheme may let eligible first home buyers purchase with as little as a 2% deposit, with the government contributing an equity share to reduce the amount you need to borrow.
A smaller deposit only helps if the full loan still works
Under Help to Buy, the government may contribute an equity share toward the property for eligible buyers. That can reduce how much you need to borrow, but you still need to meet scheme rules, lender policy, borrowing power checks and property price limits.
Help to Buy scheme qualifiers
These are the first things to check before you rely on Help to Buy. The scheme rules can change, so this page is a starting point rather than a final approval.
Buyer status
You generally need to be an eligible first home buyer and intend to live in the property. Citizenship and ownership history matter.
Income limits
Your taxable income needs to fit the current scheme limits for your household type. These figures should be checked before applying.
Property fit
The property needs to fit the scheme’s location-based price cap and lender requirements.
Deposit and savings
You may still need genuine savings, purchase costs and enough deposit to meet the lender and scheme requirements.
Borrowing power
The lender still checks whether the loan is affordable based on your income, expenses, debts and credit profile.
Shared equity fit
You need to be comfortable with the government holding an equity share and understand how that may affect future sale or refinance decisions.
How Help to Buy works
The broad idea is simple, but the details matter. We check the scheme rules and lending side together before you rely on it.
1. Check scheme eligibility
We look at your buyer status, income, property plans and whether the scheme is available for the type of purchase you want.
2. Check lender approval
Even if the scheme fits, a lender still needs to approve the loan based on your income, expenses, credit history and deposit position.
3. Understand the trade-off
Because the government takes an equity share, you need to understand how future repayments, sale proceeds and exit options may work.
This may suit you if…
You have some savings, but the deposit gap is still too large
- You may have less than a standard deposit saved
- You want to reduce the size of the mortgage you need approved
- You are open to a shared equity structure if the long-term trade-off makes sense
You want to compare Help to Buy against other first home buyer options
- You may have less than a standard deposit saved
- You want to reduce the size of the mortgage you need approved
- You are open to a shared equity structure if the long-term trade-off makes sense
Not sure if Help to Buy is the right move?
We can compare Help to Buy against the 5% Deposit Scheme, a family guarantor loan and standard low-deposit lending so you do not choose the wrong pathway.
Watch the Help to Buy explainer
This video gives you a clearer overview of how Help to Buy works and what to consider before relying on it as your first home buyer pathway.
Book a First Home Buyer Discovery Call
Choose a time below and we can work out whether Help to Buy, the 5% Deposit Scheme, a guarantor loan or another first home buyer option is the better fit.
What we check first
Borrowing power
Can the loan fit your income, expenses and future plans after the shared equity contribution is considered?
Your family member’s position
Do the Help to Buy rules, lender policy, property limits and your personal situation all line up?
Exit strategy
How could you repay or refinance the government equity share later if your circumstances change?
Help to Buy FAQs
Is Help to Buy the same as the 5% Deposit Scheme?
No. Help to Buy is a shared equity scheme. The 5% Deposit Scheme is different and does not involve the government taking an equity share in the property.
Does a smaller deposit mean approval is easy?
No. A smaller deposit can help, but you still need to meet lender borrowing rules, scheme eligibility rules and property requirements.
What is the main trade-off?
The government may own a share of the property, so future growth and sale proceeds can be shared. You need to understand that before applying.
Where should I check the official scheme rules?
Scheme details can change. Before making a property decision, check the official Help to Buy information and get your numbers reviewed.
Check the official scheme details
Help to Buy rules, income limits, property caps and participating lenders can change. Use this page as a starting point, then confirm the current rules before you make a property decision.
Ready to check your Help to Buy options?
Send through your situation and we will help you work out whether Help to Buy, a guarantor loan, the 5% Deposit Scheme or another pathway is the better fit.
General information only. Lending criteria, eligibility and risks vary by lender and personal circumstances.