Do I need to be a first time buyer to take advantage of the government’s help to buy equity loan scheme?

You do not have to be a first-time buyer. The scheme is also open to next time buyers.

 

The likelihood is, if you’re selling a property and making an onwards purchase, you may have more than 5% of your own money to put towards the deposit.

 

Whatever deposit you have will be added to the help yo buy scheme loan (up to 20% of the value of the new property) and whatever remains will be the mortgage you require.