Unacceptable schemes

We do not lend on the following: 

• Social housing schemes 
• Armed Forces Help to Buy schemes 
• Shared equity (Help to Buy scheme permitted) 
• Shared ownership 
• Right to Buy 

We also do not accept applications from: property developers, investor clubs or where a finders fee exists; applicants purchasing a property from a company in which the applicant has an interest, back to back or sub sales, social housing schemes or distressed sales. 
 

Help to Buy equity loan - Additional lending

The customer must have evidence of permission from Homes England/Help to Buy (Wales) Ltd before submitting an additional loan application. 

Additional lending can only be considered for staircasing (customer using the proceeds from the additional loan to repay their equity loan), essential modifications and transfer of equity (purchasing the full equity of the property from the current joint borrower). 

If the customer is staircasing, a solicitor must be instructed. 
Where there is to be an equity loan outstanding on completion of the additional loan: 

• the maximum LTV calculated using the mortgage amount plus additional loan amount is 75% 
• the maximum LTV calculated using the mortgage amount, additional loan amount plus the outstanding equity loan amount is 85%.

Where the equity loan is being repaid in full, normal LTV rules apply. 

Help to Buy equity loan - Transfer of equity

The customer must have evidence of permission from Homes England/Help to Buy (Wales) Ltd is required before submitting a transfer of equity application. 
 

Help to Buy equity loan - Porting

If the customer has a mortgage with us where a Help to Buy equity loan is outstanding against their property, the customer is able to port their existing mortgage deal providing the equity loan is repaid upon sale of their current property and they meet our new lending criteria.