Although England’s Help to Buy equity loan scheme ended in October 2022, 32% of Brits think it’s still available, research by David Wilson Homes reveals.
The research found that the Help to Buy equity loan scheme still averages around 20,000 Google searches per month in England, with 41% still unsure if the scheme is available.
It also uncovered ongoing confusion across the UK due to high search volumes for Help to Buy across England and Scotland.
In England, searches for Help to Buy averaged 20,925 per month, totalling 251,100 over the year, while in Scotland, where the scheme closed in February 2021, the average monthly search volume was 810, totalling 9,720.
In Wales, the only UK country where Help to Buy is still live, the scheme was searched for 668 times per month on average, totalling 8,020 across 12 months.
David Wilson Homes suggests some searches may be attributed to interest in the government-backed Help to Buy ISA.
Although this scheme also closed to new applicants in 2019, existing savers can still use their funds and access the government bonus.
The research also found that 15% of respondents believe they need at least a 20% deposit, while 11% were unsure of how much they’d need to buy a house.
Only 22% correctly identified that 5% to 9% deposits are achievable, and 36% answered that at least 10% to 14% deposit is required.
Meanwhile, 37% incorrectly believe shared ownership is exclusively for first-time buyers, and 28% were not sure who is eligible.
TNHG Mortgage Services group managing director Terry Higgins, who was consulted to address common misconceptions and provide guidance around what is available to buyers in 2026, says: “Although Help to Buy isn’t available in Scotland and England, the scheme still offers a valuable route into homeownership in Wales and is available until the end of September 2026.”
“Buyers can secure a new-build property worth up to £300,000 with a 5% deposit, supplemented by a Welsh government equity loan of up to 20%, which remains interest-free for five years.”
