link to ringley website
  • Home
  • About Us
    About us & leadership Awards Savings for Clients Case Studies Green Management Strategies Market Overview Leasehold Reform Campaign Money Back Guarantee
  • Our Services
    • Asset Management
      • UK Asset Management
      • Project Monitoring
      • ESG Consultancy & Implementation
      • PropTech & Living Sectors Platform
      • Marketing Insights
      • Resident Journey
      • Stabilised Assets
      • UK Build to Rent
      • UK Later Living
      • UK Co-Living
      • UK Student Accommodation
      • UK Single Family Housing
    • Block Management
      • Overview - London
      • Overview - Wales & West
      • Overview - Southwest
      • Right to Manage
      • Freehold Management
      • Resident Management
      • Estates of Houses
      • Ground Rent Collection
      • How to change agent?
      • Block Management Services
      • Can't afford an agent?
      • Legal & Tribunals
      • Top 10 Tips
      • Report an incident
    • Commercial Management
    • Law
      • Overview
      • Meet The Team
      • Recommendations
      • Right to Manage
      • Lease Extensions
      • Freehold Purchase
      • Absentee Freeholder
      • Court Appointed Manager
      • Conveyancing - Wales
      • Conveyancing - England
      • Service Charge/Rent Arrears Recovery
      • Company Secretary
    • Property Valuations
      • Overview
      • Loan Security
      • Company Accounts
      • Lease Extensions
      • Freehold Purchase
      • Rent Reviews
      • Ground Rent Investment
      • Development Valuations
      • Expert Witness & Litigation
      • Tax, Trusts & Accounts Valuations
      • Trading Business
      • Compulsory Purchase
      • Residential Valuations
    • Engineering
      • Overview
      • EWS1 Consultancy
      • Asbestos
      • Contract Administration
      • Fire Assesment
      • Homebuyer Survey
      • Building Survey
      • Schedules
      • Party Wall Matters
      • Principle Designer
      • Disability Access Audits
      • Small Building Works
      • Fire Door Inspection
      • Insurance Valuations
    • Property Accounting
      • Finance
      • Quote For Service Charge Accounts?
      • Property Accounting Law
      • Accounting Updates
      • To Audit or Not?
    • Plant & Facilities Management
      • Plant & Facilities Management
      • Fire Door Inspection APP
      • Fire Safety Update
    • Site Staffing Solutions
      • Ringley Integrated Site Staff Solutions
    • Leasehold Guidance
      • Overview
      • Right to Manage
      • Purchasing The Freehold
      • Court Appointed Manager
      • Absentee Freeholder
  • Insights
    Asset Management Articles Block Management Blogs Publications BTR Rental Market Blogs Customer Insights FAQ - Ask Our Experts Insurance Calculator
  • Get In Touch
  • Work with us
  • Portal Login
Three cheers for Help to Buy but don't forget to do your homework first

Written by: Mary-Anne Bowring 03/09/2020
  532       0
Responsive image

Help to Buy is great but don't forget to do your homework first

A new flat could be yours with a small deposit via Help to Buy - but do read the small print.


There was good news this week for anyone hoping to buy their first flat via the Government?s Help to Buy scheme. A new and improved offer will run from 2021 to 2023, with some new safeguards written in. Builders must now sign up to the Building Safety Charter (when it?s launched) if they are selling homes under Help to Buy in blocks above 18 metres - or 6 floors, whichever is lower. And any ground rent on the sale of leasehold properties through the scheme must be restricted to a peppercorn rent.
The Government-funded scheme allows buyers to purchase a new-build home with a 5% deposit plus an equity loan from the government and a mortgage for the remaining balance. The scheme includes regional property price caps. The caps take average first-time buyer prices for the region (inflated to account for property price growth) and add a further 50% to ensure there is good availability of the scheme.


Since it was originally rolled out in 2013, it has helped more than 200,000 home buyers, but it?s also faced accusations of inflating house prices and lining developers? pockets. The Government seems to have taken these criticisms on board. For starters, it will be restricted to first-time buyers. Now, defined in line with stamp duty land tax exemption, the scheme will only be applicable to people who have never owned a property before. All buyers will be entitled to view the actual home being purchased (with their own surveyor if desired) before legal completion of the sale.
Developers who want to use the Help to Buy scheme must now sign up to a range of new quality measures to improve consumer experience and safety. As we blogged yesterday, builders must be subject to adjudication provided by the New Homes Ombudsman and the preceding voluntary scheme (when established). Those housebuilders with a Home Builders Federation star rating must show it clearly on all Help to Buy-related communication and advertising and all homes built from May onwards must comply with the most recent energy efficiency requirements.


Despite all this, there is still a strong element of Caveat emptor or buyer beware, about this initiative. It's been really helpful for people who otherwise could never have afforded to make the move from renting to buying. But the way the equity stake from the Government works is complicated and despite getting a 5-year interest free period, after that monthly payments will go up. You can only buy selected properties from certain developers and get a mortgage from selected lenders - and any profit you make when you sell your flat will be shared with the Government; they will take back 40% of the sale. So the message here is that potential buyers really can benefit from the scheme - which does look better this time round. But they do need to go into Help to Buy with their eyes open - and do their homework.



Property Management Block Management Building Safety
POPULAR POSTS

Solar panels on flats - what you need to know

Is noise getting you down?

Ground Rent: Fines for Landlords Who Charge Ground Rent

High Court: Right to Rent does breach human rights

Landlords beware - Don't believe everything you read!

RECENT POSTS

Service Charge Disputes: What Can Be Disputed, How, and the Role of the First-Tier Tribunal

Service Charges in New Build Flats vs Older Converted Properties: What Are the Differences?

Buying a Flat? How to Understand the Service Charge Accounts and Spot Hidden RIsks

Service Charges and Leases: What? When? Year-End Accounts? How to Read a Lease

Why Standing Orders Don't Really Work for Service Charges


Blogs on similar property topics

ASSET MANAGEMENT
Law Commission report is both timely and welcome - but we urge caution
The Law Commission report into the leasehold sector is published this weekThe Law Commission report into leasehold reform is a timely announcement, as the Government looks to restart the housing market. But we sound a note of caution. The proposals, announced on 21 July, to streamline and simplify the process of buying the freehold of a leasehold property are especially welcome - not least because every lease is getting shorter. However, it is...

Read More

ASSET MANAGEMENT
UK Housing Crises and Reform imperatives
The UK faces a severe housing dilemma, with a consistent shortfall in the number of homes being built to meet rising demand. Despite the government’s goal of constructing 300,000 homes per year, fewer than 250,000 homes were built in the past year, exacerbating the crisis.

Read More

ASSET MANAGEMENT
Some Want EPCs Renewed Every Three Years, ouch!
The UK’s leading energy assessment training provider, Elmhurst Energy, is calling for drastic changes to Energy Performance Certificates (EPCs). Their proposal? EPCs should support net-zero efforts and be renewed every three years. While their intentions may be good, can tax-drained, compliance-exhausted landlords really afford the extra cost? More landlords leaving the market would only worsen the supply-demand imbalance, making housing even ...

Read More

Meet our Expert Property Commentators

Mary-Anne Bowring FTPI FRICS FARLA FCABE Founder/Head of Asset Management

Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership

Ian Barber MD BTR Mobilisation & Leasing

Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!

Jon Curtis MRICS Head of Building Engineering

Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.

Kate Robinson MTPI MD Blocks/FM Management (London Region)

Master plan setup, ops and staffing and resident engagement. ISO45001 champion.

Lee Harle Partner Ringley Law

Plot conveyancing. Debt litigation. Group Company Secretary.

Natalie Birmingham Helpdesk Support Manager

Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.

Chris Georgalis MRICS Head of Commercial Valuation

Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews

Nichola Pughe MRICS Head of Residential Valuation

Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist


Insights, articles & blogs
INDEX

PROPERTY
BLOGS

LANDLORD
BLOGS

PROPERTY
ARTICLES

E-BOOKS

inshights shared - link to planetrent blogs

Landlord blog
Read landlord blog
inshights shared - link to ringley blogs

Property blogs
Read property blogs
inshights shared - link to ringley articles

Property articles
Read property articles
inshights shared - link to ringley ebooks

E-books
Read E-books

Our Offices

link to ringley social media facebook link to ringley social media instagram link to ringley social media linkedin link to ringley social media x-twitter
  • Back
    Office
  • Ringley House
  • 1 Castle Road
  • London
  • NW1 8PR
  • T: 0207 267 2900
  • Customer
    Office
  • Ringley House
  • 47 Rochester Place
  • London
  • NW1 9JL
  • Manchester
  • 11 Swan Street
  • Northern Quarter
  • Manchester
  • M4 5JJ
  • T: 0330 174 7777
  • Cardiff
  • 122 West Bute Street
  • Cardiff Bay
  • Cardiff
  • CF10 5LJ
  • T: 0330 174 7747
link to ifsm website link to tpos website link to rics website link to ukgbc website link to governmanet security industry authority website link to alep website
  • What we do
  • Asset Management
  • Block Management
  • Facilities Management
  • Property Law
  • Surveying / Valuation
  • Building Engineering
  • Financial Services
  • Managing Agents
  • Block Management Locations
  • Co-working
  • Renting & Letting
  • Right to Manage
  • Contractor Management
  • Space to Work
  • Fees and Client Money Protections
  • Ringley Group
  • About us
  • CSR / ESG
  • BusyLiving
  • PlanetRent
  • Talk to us
  • Careers
  • Ask a Question
  • Insights
  • Articles
  • Blogs
  • Subscribe
  • BTR & PRS Buildings

Emergency Lines

0207 428 2056

0207 267 2900

solutions@ringley.co.uk

Report an incident

read more link

All content © copyright 2025. Ringley Limited. All Rights reserved. Ringley Limited, incorporated and registered in England and wales.

Registered office: Ringley House, 1 Castle Road, London, NW1 8PR. Company No. 03302438

Terms of use | Privacy Policy | Modern slavery act | COVID-19 risk assessment

Ringley Staff Dashboard
link to ringley social media facebook link to ringley social media instagram link to ringley social media linkedin link to ringley social media x-twitter
link to ringley social media x-twitter for small device
link to ringley social media linkedin for small device
link to ringley social media instagram for small device
link to ringley social media facebook for small device
  • Ringley Group
  • About us
  • CSR / ESG
  • BusyLiving
  • PlanetRent
  • Talk to us
  • Careers
  • Ask a Question
  • Insights
  • Articles
  • Blogs
  • Subscribe
  • BTR & PRS Buildings
  • What we do
  • Asset Management
  • Block Management
  • Facilities Management
  • Property Law
  • Surveying / Valuation
  • Building Engineering
  • Financial Services
  • Managing Agents
  • Block Management Locations
  • Co-working
  • Renting & Letting
  • Right to Manage
  • Contractor Management
  • Space to Work
  • Fees and Client Money Protections
  • Email: solutions@ringley.co.uk

  • Emergency line 1: 0207 428 2056

  • Emergency line 2: 0207 267 2900

  • Report an incident
  • Our Offices
  • London
  • Ringley House
  • 1 Castle Road
  • London
  • NW1 8PR
  • T: 0207 267 2900
  • London
  • Ringley House
  • 47 Rochester Place
  • London
  • NW1 9JL
  • Manchester
  • 11 Swan Street
  • Northern Quarter
  • Manchester
  • M4 5JJ
  • T: 0330 174 7777
  • Cardiff
  • 122 West Bute Street
  • Cardiff Bay
  • Cardiff
  • CF10 5LJ
  • T: 0330 174 7747
Privacy Policy
Ringley Staff Dashboard
link to ifsm website link to tpos website link to rics website link to ukgbc website link to government security industry authority website link to alep website

All content © copyright 2025. Ringley Limited. All Rights reserved. Ringley Limited, incorporated and registered in England and wales. Registered office: Ringley House, 1 Castle Road, London, NW1 8PR. Company No. 03302438
Terms of use | Privacy Policy | Modern slavery act | COVID-19 risk assessment