The Help to Buy scheme is aimed at first-time buyers to help get a foot on the property ladder. It offers a five-year interest-free equity loan paid for by the Homes and Communities Agency (trading as Homes England). It’s a government agency funded by the Department for Levelling Up, Housing and Communities.

A record 55,000 households purchased a home through the Help to Buy scheme in the financial year 2020-21. Since the scheme was introduced in April 2013, 328,506 households have now purchased a home through the programme.

This guide will explain everything you need to know about Help to Buy. From whether you’re eligible, to how much you can borrow and what this house-buying programme is like.

The Help to Buy scheme – explained

Image credit: Alamy

What is the Help to Buy scheme?

The Help to Buy: Equity Loan scheme was relaunched on 1 April 2021 and will run until March 2023. As with shared ownership, the aim of the scheme is to help first-time buyers get onto the property ladder. Prospective first time buyers in England can apply for an equity loan of up to 20 per cent of the value of a new-build home. Buyers in London can borrow up to 40 per cent to reflect the higher property prices in the capital.

The amount that you can spend on the home depends on where in England you buy:

As an example, if  you want to buy a house in South West England for £200,000 with a five per cent deposit and a 20 per cent Help to Buy equity loan. You will need £10,000 deposit, £40,000 Help to Buy and a £150,000 mortgage.

Who is eligible for the Help to Buy scheme?

You need to be at least 18 years old. You cannot own a home or land anywhere in the world now or in the past. If you are purchasing with another person, they also must meet the the ‘first time buyer’ criteria.

If you’re married or in a cohabiting relationship, you’ll have to make a joint application with your spouse or civil partner and both live in the home having it as your only residence.

Image credit: Future Plc/Douglas Gibb

Do all lenders offer Help to Buy mortgages?

Not all lenders will offer a Help to Buy mortgage. ‘Lenders that do offer Help to Buy mortgages will vary mortgages from their standard mortgage products. This is because you are one of three parties involved in your mortgage, which includes yourself, the government and your provider,’ says Kate Burns, Mortgage Consultant at KB Mortgage Services.

Can I buy any new-build home under Help to Buy?

Not all developments sell their homes with Help to Buy. ‘However, most of the larger builders have to provide a certain amount of Affordable Housing depending on the size of the development. This is agreed with the local authority,’ says Gemma Caufield, Residential Sales Branch Manager at Bramleys.

Any home builder that wants to sell homes via Help to Buy must apply to Homes England to become part of the scheme. The developer has to be a UK-based company and provide a Building Warranty. All Help to Buy home builders must have agreed to sign up to the New Homes Ombudsman, too. The scheme supports buyers in resolving or being compensated for poor building work and enforces higher building standards.

How do I pay back the loan?

For the first five years, the equity loan is interest-free. You only pay a £1 monthly management fee by direct debit.

From year six, you pay the £1 monthly management fee, and you pay a monthly interest rate of 1.75 per cent of the equity loan.

You continue to pay interest until you have paid off your loan in full. The interest rate will rise in April each year based on the rate of inflation at the time, plus two per cent. If the rate of inflation is 0 per cent or less, the interest rate will rise by two per cent.

You must repay the equity loan in full when you pay off your repayment mortgage, sell your home, or reach the end of your loan term, which is usually 25 years. You can pay off your equity loan in full or make part payments at any time before then. However, any part payment you choose to make on top of a monthly interest payment must be at least 10 per cent of the market value of your home at the time. Part payments will reduce the amount you owe on the equity loan.

What happens when I sell my home?

You can sell your home at any time. You will have to pay off the equity loan before the sale completes. ‘When you’re ready to sell the property that you purchased via Help to Buy, an independent valuation needs to be arranged to work out the full value of the home,’ says Jonny Enticknap, at Hamptons.

‘You then pay back the percentage loan that was borrowed from the Government, which varies according to how much the property is now valued at,’ he says.

What is the Help to Buy house buying process?

Image credit: Future Plc/Colin Poole

With three parties involved buying a house via the Help to Buy scheme can be more complicated than a standard property purchase. Here’s a summary of the procedure.

Find a property

First find a new build with a homebuilder who is registered with the scheme. Visit Own Your Home to search agents in your area.

When you’ve found a home you will need to pay a reservation fee and receive a signed Reservation form from the homebuilder. The fee will be refunded if you’re not approved for an equity loan.

Register your interest

Next, register with your Help to Buy agent in your area at Own Your Home.

Send your agent a completed Property Information form and the signed Reservation form. The agent will then check your eligibility. ‘It’s advisable to also take independent advice from a financial advisor or mortgage broker at this stage,’ says James Smith, Director and Co-founder at Holden Smith. ‘To ensure this type of lending is the most appropriate for your personal situation.’

If your application is approved, your Help to Buy agent will give you an Authority to Proceed issued by Homes England. This is an official document stating that you’re eligible for the equity loan and you can progress with buying the home.

Exchange contracts

Appoint your own solicitor or conveyancer who will give you legal guidance and further forms to fill in. The Authority to Proceed is valid for three months. If it expires you will need to reapply. At this stage, you also need to arrange your repayment mortgage with a lender.

Once all the necessary forms and title checks are complete, you can exchange contracts. You’ll be expected to pay at least five per cent of your deposit and you are legally bound to buy your new home.

Completion

At this point you will pay the remainder of your deposit, your lender pays the homebuilder the full amount of your mortgage and Homes England pays your equity loan to the homebuilder.

Now you legally own your new home. You can officially start the moving house checklist.

‘Once legal completion occurs, the Help to Buy agent passes your details onto the equity loan administrator to manage the equity loan account until it is paid in full,’ says Kate Burns, Mortgage Consultant at KB Mortgage Services.

Image credit: Future Plc / Colin Poole

Help to Buy: the pros and cons

What’s great about Help to Buy?

• It helps first-time buyers get a brand-new home with a small deposit.
• You won’t have to pay any interest on the equity loan for the first five years.

What are the negatives?

• An equity loan is secured against your property in the same way a repayment mortgage is. This means if you are unable to keep up with the repayments, you run the risk of losing your home.
• Once you have exchanged contracts, you may have to pay costs if you change your mind and back out of buying the home.
• You can’t make any structural changes to your property, such as an extension or converting a bedroom into a bathroom, without permission.
• You are not allowed to sublet your home without permission which can be restrictive.

Are there any further considerations?

You must complete buying your home within six months of exchanging contracts.

The amount you borrow is based on the market value of your new home when you buy it. If the market value of your home increases, so does the amount you have to pay.

However, if the value of your home decreases, the amount you have to repay also falls. ‘Over the last 18 months we’ve seen values rise across the UK, so it’s unlikely people will see a drop in property value unless they initially paid significantly more than market value for the property,’ says Jonny Enticknap.

Factor in extra fees. ‘There is a significant amount of paperwork for both a financial advisor, if you employ one, and your solicitor to complete with the Help to Buy loan,’ says James Smith. ‘So expect an additional fee on top of the usual solicitor fees as it can be quite an onerous paper process.’

The post The Help to Buy scheme explained – including the new equity loan appeared first on Ideal Home.

You can now buy wallpaper specifically designed to boost productivity while working from home. VELUX teamed up with Poodle & Blonde to launch a luxury wallpaper for the home office named ‘Magic Hours’.

The range is the first of its kind, complementing the varying daylight in our home offices – whether this means an entire room or the corner of the living room. As home office ideas go, we have to say this is one of the chicest we have stumbled upon.

Productivity-boosting wallpaper for the home office

Image credit: VELUX x Poodle & Blonde

VELUX worked with Whinnie Williams and Kierra Campbell from luxury, retro-inspired homeware brand Poodle & Blonde to create this limited-edition collection. The range has three colourways, each drawing inspiration from how the light changes over the course of the day.

The Magic Hours colourways

1. The Golden Hour
   The orange and caramel tones of this paper take inspiration from the golden hour, AKA mother nature’s filter.
2. The Twilight Hour
   Purples and deep pinks evoke the moment when the last of the daylight turns to moonlight.
3. The Blue Hour
   When the sun’s last rays create subtle hues of blue.

Image credit: VELUX x Poodle & Blonde

Each wallpaper for the home office has a texture that reflects light, and gorgeous wood-grain print. The gentle contours add interest and a sense of depth, great if you’re looking for small home office ideas to spruce up your space.

Plus, studies show looking at wood can lower our blood pressure. So this natural pattern is bound to make us feel a little calmer when logging onto important calls. Because whether we like it or not, almost half (46%) of us are still working from home 5 days a week.

‘At VELUX , we’re committed to helping homeowners transform the spaces they spend the most time in. This collaboration with Poodle & Blonde allows us to do just that,’ says Lisbeth Collignon from VELUX . Whinnie and Kierra say that they jumped at the opportunity to work with this well-known brand.

Image credit: VELUX x Poodle & Blonde

Their favourite colourway is Golden Hour, ‘simply because it conjures a real sense of warmth and light, which we’re always drawn to, especially when designing a space that is used for both living and working.

‘We love it when something as simple as introducing a pattern into your home, can make such a big difference to the way you use and feel about the space,’ they add. Check out the wallpaper trends for 2022 for more inspo.

The VELUX x Poodle & Blonde ‘Magic Hours’ wallpaper collection is available now: buy it here for £115 per roll.

The post This new wallpaper has been designed to boost WFH productivity appeared first on Ideal Home.

The best multi-cooker may be somewhat new on the appliance scene, but they’ve made a big splash. Often combining pressure cooking with modes for slow cooking, baking, steaming, and even air frying, these multi-cookers really can change the way you use your kitchen.

Some of the first multi-cookers came from Instant Pot, and the Ninja Foodi range was quick to follow. Since then, everyone from Tefal to Magimix has come out with their own iterations of the best multi-cookers, and there really is a suitable choice for every kitchen.

Offering as much as 14 cooking settings in one machine, though, it’s fair to say that we needed to test these multi-cookers thoroughly to put together an expert guide. That’s exactly what we’ve done, with a panel of expert reviewers weighing in on how well these multi-cookers can replace rice cookers, the best slow cookers, and debating if they can oust the best air fryers from your kitchen.

Below are our top picks of the best multi-cookers on the market, with budget-friendly models for under £100, and options that go into the thousands…

Best multi-cooker: our top 6

1. Instant Pot Pro

The best multi-cooker overall

Capacity: 5.7 L or 8 L
Pre-sets: 28 pre-set cooking programs
Cooking functions: Pressure cook, slow cook, steam, sauté, bake, sous vide, yogurt, rice/ grain
Included: Stainless steel pot, steam rack, spare sealing ring
Reasons to buy: 

• Silicone cooking pot handles
• Safe and easy steam release
• Free recipe app makes it easy to adapt to

Reasons to avoid: 

• The pot isn’t non-stick

The Instant Pot Pro has a sleek black exterior and is fully loaded with presets and cooking functions to take centre stage in your kitchen. We appreciated how compact the 5.7 litre model we tested was, but it also comes with an 8 litre pot for larger families. Something that can put people off pressure cooking is the steam vent release. This lets out high-pressure steam, which can splutter depending on the machine you’re using. We had no such issues with the Instant Pot Pro though, thanks to the switch to the side of the valve which means you can keep your distance.

We made tasty brown rice in just 30 minutes, and were left with fluffy separated grains. The slow cooking mode was also impressive, but it’s worth noting that with all multi-cookers they will retain liquid better than a regular slow cooker, so reduce the amount of stock you’re using to get the same result you’re used to with your slow cooker.

Everything, even the lid, can go straight in the dishwasher, which we were thrilled with. Especially because the pot isn’t non-stick, it’s nice to know there won’t be any need for scrubbing.

Ideal Home rated 4.5 out of 5 stars

Read our full Instant Pot Pro review

2. Ninja Foodi 9-in-1 Multi-Cooker OP350UK

The best multi-cooker for in-built air frying

Capacity: 6 L
Pre-sets: None
Cooking functions: Pressure, steam, slow cook, yogurt, sear/ sauté, air crisp, grill, bake/ roast, dehydrate
Included: Reversible rack, Cook & Crisp basket with detachable diffuser, cooking pot, pressure lid
Reasons to buy: 

• Simple controls
• Non-stick cooking pot
• In-built air frying

Reasons to avoid: 

• Hinged crisping lid can’t be removed

A popular choice for those who want an air fryer and multi-cooker in one, the Ninja Foodi 9-in-1 Multi-Cooker OP350UK is the most entry-level of Ninja’s lineup of multi-cookers. It’s smart though, with an uncomplicated display panel that’s unlikely to scare new users away. The central dial allows you to switch between the cooking functions, and it will also allow you to increase and decrease the timings and temperatures.

The air frying lid (which is known as the tendercrisp lid) is hinged to the side of the cooker, so when you use the pressure lid you need to allow room for the crisp lid to stand upright. This can make it tricky to fit the Ninja Foodi 9-in-1 Multi-Cooker OP350UK under kitchen counters. The air frying is actually really good, though. We were able to make an entire roast chicken by pressure cooking and then air frying it, and the potato wedges it made were even and crispy.

We enjoyed the non-stick cooking pot, but it can swivel around slightly when stirring because the pot isn’t held into place with handles like the Instant Pot Pro. The bottom of the pot is also slightly curved, which made it tricky to add oil to the pot without it gathering at the sides. Cleaning is a breeze, and the handles on the side make this a storage-friendly multi-cooker.

Ideal Home rated 4 out of 5 stars

Read our full Ninja Foodi 9-in-1 Multi-Cooker OP350UK review

3. Sage Fast Slow Go Multi-Cooker

The best multi-cooker for easy presets

Capacity: 6 L
Pre-sets: 8
Cooking functions: Pressure cook, slow cook, steam, sauté/ sear, sous vide, reduce
Included: Stainless steel cooking bowl, stainless steel trivet
Reasons to buy: 

• Attractive controls
• Pre-sets work on pressure or slow cook
• Handles make it very portable

Reasons to avoid: 

• Cooking bowl can’t go in dishwasher

Sage’s latest multi cooker, the Sage Fast Slow Go, is a great alternative to the fascia of many multi-cookers. The images make it more attractive, but also easier to get to grips with. You can choose between pressure and slow cooking for many of the presets, and it can also be used to steam, sous vide, and reduce.

The hinged lid is unusual, and not our favourite. It can be removed, but the process is quite fiddly. We do like that the pressure cook mode releases the valve hands-free, which means you won’t need to worry about any splattering hot water.

We made a very delicious risotto in just 18 minutes using the Sage Fast Slow Go, and it required no stirring. Another dish we tried was a chickpea curry using dried chickpeas on the legume setting. This was a big win, and while we’re not usually fans of using dried chickpeas, this machine may have converted us for how easy the process was.

Ideal Home rated 4.5 out of 5 stars

Read our full Sage The Fast Slow Go review

Buy Sage The Fast Slow Go, £169.95, at sageappliances.com

4. Magimix Cook Expert

The best multi-cooker for premium design

Capacity: 3.5 L metal bowl, 3.6 L food processor bowl
Pre-sets: 13 automatic programmes + 1 expert manual programme
Cooking functions: Steam, soup, blend, chop, bread, and more
Included: Universal blade, Steamer basket & tray, Whisk, Heat-resistant spatula, three-layer food processor, 2 slicing discs, 2 grading discs
Reasons to buy: 

• Easy to clean
• Food processor and cooking attachment
• Completely hands-free cooking

Reasons to avoid: 

• It’s a very expensive choice

The Magimix Cook Expert brings an alternative take on multi-cooking, with an attachment to put even the best food processor out of a job, and a cooking bowl with blades attached at the bottom which can whiz through soup or stews with ease. You can use the presets for soup (chunky or smooth), blending, frozen desserts, and even kneading dough, or even freestyle on the manual cooking mode to make your own recipes.

We really enjoyed how immersive the Magimix Cook Expert experience is. You can join online groups to get tips on new recipes to try, and it’s amazing to see how many different things people make in their Cook Expert. This includes mulled wine, porridge, even custard. The blades at the bottom can’t be removed, so the grooved spatula is needed to get ingredients out of the bottom of the cooking pot. It’s a bit fiddly when cooking dishes like porridge or mashed potato.

None of the other multi-cookers we tried had blades attached, so while you can use the steam insert or use the Magimix Cook Expert as one of the best soup makers, you will also enjoy being able to set the blades on a slow mode to use them to stir rice or veggies while they cook from the bottom of the cooking pot. Cleaning is very easy, because everything is dishwasher-safe.

Ideal Home rated 4.5 out of 5 stars

Read our full Magimix Cook Expert review

Buy Magimix Cook Expert, £1,195, at Magimix

5. Tefal CY505E40 All-in-one Pressure Cooker/Multi Cooker

The best multi-cooker for under £100

Capacity: 6 L
Pre-sets: 11
Cooking functions: Pressure, steam, slow cook, simmer, brown, bake, baby food, oatmeal, rice
Included: Measuring cup, spatula, steam basket, trivet, recipe booklet
Reasons to buy: 

• 24-hour keep warm function
• Recipe book included
• Great for rice

Reasons to avoid: 

• No obvious start button

If you want the best multi-cooker for under £100, the Tefal CY505E40 is a great choice. We really loved the control panel, which made it easy to pick the right mode for you, and there’s a lot this multi-cooker can do. It made delicious, fluffy rice, the likes of which we’d expect from one of the best rice cookers. We also really enjoyed the recipe book included, which made it easier to get used to using the Tefal CY505E40.

The compact design of the Tefal CY505E40 will be a winner in smaller kitchens, but again, the lid is hinged. Using the browning program before switching on the pressure cooking mode was useful for getting the most flavour out of a delicious beef stew, and the whole process was pretty low-effort.

One issue we had was the lack of an obvious start button. Instead there’s an icon, which you’ll need to find in the control manual, but it does make getting started a little trickier. Cleaning was easy. The non-stick coating of the cooking pot was appreciated, especially from Tefal, who makes some of the best non-stick frying pans. It can’t go in the dishwasher though.

Ideal Home rated 4 out of 5 stars

Read our full Tefal CY505E40 All-in-one Pressure Cooker/Multi Cooker review

6. Crockpot Turbo Express Electric Pressure Cooker

The best multi-cooker for cooking meat

Capacity: 5.6 L
Pre-sets: 14
Cooking functions: Pressure, steam, slow cook, brown, bake, rice, yoghurt
Included: Stirring spoon, steaming rack and sous vide rack
Reasons to buy: 

• Makes 6+ functions
• Makes great stew
• Separate pressure release dial

Reasons to avoid: 

• Not great for steaming veggies

The Crockpot Turbo Express Electric Pressure Cooker made delicious stews. We were able to brown the meat first before switching over to slow cook or pressure cooking mode and leaving it to cook. The turbo settings  There are presets for rice, beans, stew, meat, and ever desserts, as well as manual settings to let you get stuck in.

Steaming was a little tricky, as was cooking rice, but this is a multi-cooker that you’ll enjoy after an initial adjustment period. It’s also well-priced, and great for generous portions. The steam vent is once again distinguished from the pressure switch, so you won’t have to worry about splatters with this multi-cooker. It’s got a non-stick pot, but it’s not dishwasher-safe.

Ideal Home rated 3.5 out of 5 stars

Read our full Crockpot Turbo Express Electric Pressure Cooker review

How to choose the best multi-cooker

If you’re looking for the best multi-cooker to make stews and speed up cooking times, you’ll be safe with an entry-level model. Most multi-cookers can pressure cook, so you’ll be able to enjoy cooking all types of meat and pulses with a range of functions to brown and then cook your dish. However, not all multi-cookers come with an air fryer in-built. Adding an air fryer into the equation will let you switch from pressure cooking to air frying, which will crisp up the skin of your chicken or make your roasties in minutes.

Pre-set modes

Although they often come with around 10 cooking modes, not all multi-cookers have pre-set modes. Whether you need pre-sets is really up to you. Some enjoy using them to follow specific recipes, but others will find that they are dependent on what you’re cooking. For example, a rice preset is designed to cook a specific amount of rice, and a stew preset is designed to cook a specific type of meat. The amount of time this needs will vary depending on what you’re cooking, so you can’t depend on pre-set modes alone.

How did we review the best multi-cookers?

We reviewed each and every one of the best multi-cookers in this guide hands-on. There are a lot of modes on offer, so we made sure that every cooker was put to the test for more than just stews or curries. We made rice, used legume presets, and even cooked cakes when putting the best multi-cookers to the test.

As more multi-cookers continue to hit the market, we’ll be reviewing to continuously update this guide with the top options on the market.

The post Best multi-cooker 2021: reviews of the top 6 appeared first on Ideal Home.