Can you get help to buy on a second home?

No. You will not be able to get the help to buy on a second home but if you do buy a second home whilst having a help to buy equity loan on your first home you will be required to pay back the help to buy equity loan.

When usig the help to buy scheme you will also have to fill in a first time buyer declaration stating tht you are a first time buyer.

As the help to buy is not a substitute for a buy to let mortgage you can not rent out your help to buy property.

You cannot own any other property when you own a home with the help to buy equity loan.

If you make a fraudulent claim for the help to buy equity loan you may be subject to a criminal prosecution and will be required to pay back the help to buy equity loan in full if you were successful in getting the loan.

If you want to buy another property then you will need to first pay off your help to buy equity loan.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.