The Cambridge Building Society re-launches Help to Buy Mortgages

January 8, 2021

The Cambridge is once again offering Help to Buy mortgages, supporting First Time Buyers get a foot on the housing ladder with new products added to their range.

The re-launch is in response to changes to the Government’s Help to Buy scheme which now limits applications to First Time Buyers and includes regional property price caps to ensure it is being utilised for those who really need it.

Cambridge-based First Time Buyers, classed as East of England, have a regional property price cap of £407,400, one of the highest outside of London. This means that if a First Time Buyer was looking to purchase a £300,000 home, they could achieve it with a 25 per cent deposit, made using a 20 per cent Government Help to Buy Equity Loan of £60,000 and a five per cent deposit of £15,000.

Dan Barker, Product Manager at The Cambridge, describes the range of mortgage products: “These products have been designed with First Time Buyers in mind, with a low application fee at £199, free valuation and no completion fees making them more accessible than most. And like all our mortgages at The Cambridge our customers are able to overpay by a minimum of 10 per cent if their situation changes and they choose to do so”.

Product Initial interest rate Application Fee Completion Fee Early Repayment Charge Over- payments
Help To Buy

2 Year Fixed

2.54% £199 £0 3/2% 10%
Help to Buy

2 Year Discount (variable rate)

2.14% £199 £0 0% Unlimited
Help to Buy

5 Year Fixed

2.69% £199 £0 5/4/3/2/1% 10%


The new scheme will allow First Time Buyers to apply now and reserve their home, ready to move into from 1 April 2021. Mortgage teams at The Cambridge are ready to help customers in preparation for an April move in date.

Matthew Barber, Mortgage Manager at The Cambridge, reflects: “We know 2020 put plans on hold for some hoping to move, and with the uncertainty in the housing market First Time Buyers have been hit hard. We’re so pleased to have a range of options to help First Time Buyers and with Help to Buy back in the range our ability to support them get a foot on the housing ladder is greatly enhanced”.