Apply for a Help to Build: Equity Loan

How to apply

To apply you must:

be 18 or older
have the right to live in the UK
be able to get a self-build mortgage from a lender registered with Help to Build
have a deposit of at least 5% of the estimated cost of the land and build

 Most lenders who are registered with Help to Build will advertise this - ask them if you’re not sure.

You cannot apply if:

you’ve got funding from another Help to Build equity loan in the last 2 years
you still owe money after borrowing from another government home ownership scheme

You can apply on your own or with up to 3 other people. 

Before you apply

To complete your application, you’ll need information about:

your mortgage
your legal adviser
yourself and your income
the land and the home you’re building

Your mortgage

You’ll need to provide:

proof that a lender has offered you a mortgage
the amount of money you expect you’ll borrow
how many years the mortgage would be for
the name of the bank or building society you expect to provide the mortgage
the name and contact details of your mortgage broker or financial adviser, or the name of your mortgage lender
the deposit you intend to pay

Your deposit must be at least 5% of the estimated cost of the land and build. It can also include money you or the lender will set aside in case the project goes over budget.

Your legal adviser

You need to have a legal advisor who specialises in buying and selling land. You’ll need to provide their contact details.

You’ll need:

their name
the company they work for
their email address and telephone number
their business address

The adviser can be a conveyancing solicitor or a licensed conveyancer.

Find a conveyancing solicitor on the Law Society website.

Find a licensed conveyancer on the Council for Licensed Conveyancers website.

Yourself and your income

You’ll need to give details of:

the addresses you’ve lived in for the last 3 years
all sources of income, for example annual salary, bonuses, commission, overtime, pensions or investments (if you do contract work, you’ll need to show income from the last two tax years)
monthly benefits, for example child benefit
any debts you owe

If you’re applying with others, you’ll need to provide their details.

The land and the home you’re building

  You’ll need:

the type of project you’re planning and who’ll be responsible for each part of it (for example yourself or a builder)
your estimated land costs 
your estimated building costs (use an estimate if you do not know exact costs, excluding VAT and any money you’ve saved in case you go over budget) 
the address (or a description of how to find the plot) 
who the local authority is
the type of home (for example flat, detached, semi-detached, terraced)
the way the home will be owned (freehold, leasehold or commonhold) 
how many bedrooms it’ll have
the dates you plan to start and finish building 
the monthly service charge (for leasehold and commonhold homes)