Home Buying Schemes

Buying a home in the UK isn't always straightforward. Saving for a deposit, proving you can afford a mortgage, or simply finding a property within your budget can all make home ownership feel out of reach.

That's why lenders, the government and some local councils offer a range of home buying schemes. Designed to tackle these common barriers, these schemes have helped thousands of people take their first step onto the property ladder, or move into a home that might otherwise have been beyond their reach.

Below is an overview of some of the most popular schemes on the market, which our advisers would be happy to talk through with you in more detail.

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Affordability

Proving affordability can be hard, the following schemes help to boost or prove your affordability:

Shared Ownership
First Homes Scheme
Rent to Buy
Own New Rate Reducer
Deposit Unlock
Discounted Market Sale

Deposit

Saving a large deposit can seem impossible and take years. These schemes were made to help those who are struggling to save a deposit:

Low or NO deposit mortgages
Track Record Mortgages
Savings accounts designed to help you save a house deposit
Mortgage Guarantee Scheme
Shared Ownership
Developer deposit contributions (New Build)
Deposit Unlock
Gifted Deposits
Concessionary Purchase
New Build Boost

House Prices

House prices in the UK have increased a lot over the years and can make the right property for you or your family seem out of reach. These schemes help those struggling to by a property suitable for their needs:

First Homes Scheme
Shared Ownership
Right to Buy
Affordable housing schemes

Family Help

Help from someone in your family, or even a friend or landlord can help you buy a property. Here are some ways that you can use their support to purchase a property:

Gifted deposit
Family springboard mortgages
Joint Borrower Sole Proprietor
Buying Together
Concessionary purchase (buying under value)
Family offset mortgages

As you can see, there are plenty of options out there and it's not a one size fits all. The right scheme for you will depend on lots of things, from the property you're looking to buy, what income you can prove, the area you live in and your current credit to name a few. Our advisers will get to know your situation, understand your needs and guide you through your options and the process.

Get in touch with an adviser for more information.

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