Getting started

Help to Buy for
first time buyers

Support for first time buyers

With the Government's Help to Buy scheme, your first home could be closer than you think as it offers an Equity Loan of up to 20% of the property value. 

If you can afford mortgage repayments but are struggling to save up the deposit you need, Help to Buy could also provide a boost to your savings.

Helping you buy your home

Boost your deposit with a Help to Buy: ISA.

The Government pays a bonus of 25% on the amount you save, so for every £200, you'll get £50.
  • The maximum Government bonus is £3,000
  • In the first month you can save a lump sum of up to £1,200. You can then pay in up to £200 a month
  • ISAs are available to each first time buyer, not each household
  • The minimum Government bonus is £400, so you have to save at least £1,600 before you can claim your bonus. The maximum bonus is £3,000
  • The bonus is paid when you're ready to buy your property.

A loan of up to 20% of the value of your home.

The Government could lend you up to 20% of the cost of your newly built home with a Help to Buy: Equity Loan.

This means you may only need a 5% cash deposit and 75% mortgage to make up the rest of the purchase price.

  • You won't be charged loan fees on the 20% loan for the first five years of owning your own home.
  • The upper limit on the loan for new home buyers in Greater London is 40%
  • The scheme will run until the allocated funding is used up.

How Royal Bank of Scotland can help

House-black Created with Sketch.

An additional loan

If you're a first-time buyer our equity loan could work alongside your mortgage to help you buy your new home.

How much can I borrow?

Use our tool to get an idea of how much you could borrow with a Royal Bank of Scotland mortgage to help start your homebuying journey.

Is there something else you're looking for?

icon-twitter-black Created with Sketch.
icon-visit-us-in-branch-locator-premier-berry Created with Sketch.