Help to Buy (formerly HomeBuy)
The government runs Help to Buy schemes to help make buying your first home or moving up the property ladder more affordable:
Shared ownership lets you buy a percentage share of a property, while a local housing association keeps the rest. You then pay rent on the share owned by the housing association. Shared ownerships are sometimes called part-buy part-rents.
In most cases you can then buy a bigger share of the property later on to reduce the amount you have to pay in rent.
For some new build properties, the government can lend you up to 20% of the cost of the property.
You can add this to a 75% mortgage so you only need to provide a 5% cash deposit to make up the rest.
You also won't be charged any interest on the 20% equity loan for the first 5 years of owning your property.
Want to know more?
For more information on Help to Buy schemes and find out what help is available for you, please visit:
Need assistance with this service?
Get in touch:
Housing: Accommodation Team
Page last updated: 05 October 2022