5% deposit mortgages so you don’t have to save as much and can get into your first home sooner.
Gifted deposits. Your first home could be closer than you think with a gift from family
There are several housing schemes that can make buying your first home easier.
Please note that there may be other schemes available not listed below
Shared Ownership
This allows you to part-own, part-rent your home in the first instance. You can buy larger shares in your home – up to 100% – as time goes on.
- These schemes are run by Housing Associations (non-profit organisations that own, let, and manage rental housing)
- You may need at least a 10% deposit for the share of the home you’re buying with a mortgage
- You pay a subsidised rent to the Housing Association for the part you rent.
You need to check with the Housing Association to see if you’re eligible for a Shared Ownership scheme. If you are, please feel free to contact us to arrange the mortgage element of the purchase.
Help to Buy: ISA
It’s a government scheme that rewards you for saving regularly for a deposit on your first home. You’ll only be eligible for the government’s 25% bonus if you’ve met the scheme’s eligibility criteria.
To find out more about our Help to Buy: ISA please visit the government website https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/
| Help to Buy: equity loan and London Help to Buy This government-run scheme combines a mortgage with an equity loan and allows you to buy a brand new home in England. |
- You put in at least 5% deposit and the government could provide an equity loan of up to 20% of the purchase price, or up to 40% if you’re buying in a London borough (London Help to Buy).
- The equity loan is interest-free for five years after which you start being charged interest.
