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There are a variety of government mortgage schemes available, let us help you find the right one for you!
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Mortgage schemes, also referred to as affordable home ownership schemes, are government-backed initiatives designed to make buying a home more accessible.
These schemes provide financial support in different ways, such as offering discounted property prices, reducing deposit requirements or allowing buyers to purchase a share of a home.
While some government mortgage schemes are aimed at first time buyers, others are available to home movers looking for a more affordable way to purchase a property.
With a range of options available, the right scheme for you will depend on your circumstances, income, and location.
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Government mortgage schemes help make buying a home more affordable by reducing costs, lowering deposit requirements, or offering alternative routes to homeownership.
Here are some of the most popular mortgage schemes available:
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With so many mortgage schemes available, it can be difficult to know which one best suits your situation.
As a mortgage broker, we’ll assess your eligibility, explain your options, and find the most suitable mortgage for your chosen scheme.
Our mortgage advisors handle everything from securing an agreement in principle to guiding you through the full application process, making your home-buying journey as straightforward as possible.
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More on Mortgage Schemes
The Right to Buy scheme helps eligible council and housing association tenants in England purchase their home at a discounted price. The scheme is no longer available in Wales or Scotland.
The size of the discount depends on how long you have been a public sector tenant, the type of property and its location. In some cases, this can significantly reduce the cost of buying a home, making ownership more affordable.
One of the key benefits of Right to Buy is that some mortgage lenders allow the discount to be used as part, or even all, of the deposit. This can make getting a mortgage easier, but you will still need to meet the lender’s affordability requirements.
Our mortgage advisors can help you find a suitable lender and guide you through the process, ensuring you get the right mortgage for your Right to Buy home.
The Shared Ownership scheme allows buyers to purchase a share of a property, typically between 10% and 75%, while paying rent on the remaining portion. This makes homeownership more affordable by reducing the mortgage amount needed, as well as the deposit required.
Over time, buyers may also have the option to increase their ownership share through a process called staircasing, eventually working towards full ownership if they choose.
This scheme is particularly useful for those struggling to afford a mortgage on the full market value of a home. While it lowers upfront costs, there are important factors to consider, such as rent payments, service charges and restrictions on selling.
Our mortgage advisors can help you find a Shared Ownership mortgage with a lender that supports the scheme, ensuring you understand all financial commitments before making a decision.
The Mortgage Guarantee Scheme helps buyers secure a mortgage with just a 5% deposit by giving lenders added confidence to offer low-deposit mortgages.
The government provides a guarantee to lenders, reducing their risk and making it easier for buyers to access 95% loan-to-value mortgages. This scheme is open to both first time buyers and home movers purchasing properties up to £600,000.
The Mortgage Guarantee Scheme is currently set to end in June 2025, so buyers looking to take advantage of it will need to act soon. While it makes homeownership more accessible with a smaller deposit, lenders will still assess your income, outgoings, and credit history.
Our mortgage advisors can help you find a suitable lender, compare mortgage rates, and secure the best deal before the scheme closes.
A Lifetime ISA (LISA) is a government-backed savings account designed to help first time buyers save for a home.
You can save up to £4,000 per year, and the government will add a 25% bonus on top, meaning you could receive up to £1,000 extra each year towards your deposit. This bonus can make a significant difference when saving for a home, especially for those struggling to build up a deposit through regular savings alone.
To use a Lifetime ISA for a home purchase, the property must cost £450,000 or less, and you need to have had the account open for at least 12 months before withdrawing funds.
The scheme is only available to first time buyers, and the money must be used towards a mortgage deposit rather than other home-buying costs.
Our mortgage advisors can help you understand how a Lifetime ISA can be used alongside a mortgage and find a lender that accepts it as part of your deposit.
The First Homes Scheme helps first time buyers purchase a home at a discounted price, making homeownership more affordable.
The scheme offers a minimum 30% discount, which can go up to 50% in some areas, reducing both the deposit and mortgage required. These homes are typically new-build properties, but some resales are also available, provided they remain part of the scheme.
To qualify, buyers must be first-time purchasers, earn £80,000 or less (£90,000 in London), and secure a mortgage covering at least 50% of the discounted price.
Some local councils set additional criteria, such as prioritising key workers or local residents. Our mortgage advisors can help you find a lender that supports the First Homes Scheme, ensuring you secure the right mortgage for your discounted home.
The Forces Help to Buy scheme is designed to help members of the armed forces get onto the property ladder by providing an interest-free loan of up to £25,000.
This loan can be used towards a deposit, legal fees or other home-buying costs, making it easier for service personnel to secure a mortgage.
To be eligible, you must have at least 6 months of service left and meet certain length-of-service requirements. The loan is repaid over 10 years through salary deductions, making it a manageable way to boost your home-buying budget.
Our mortgage advisors can help you find lenders that accept Forces Help to Buy and guide you through the mortgage application process.
There are several other government housing schemes and regional initiatives designed to make buying a home more affordable.
From local council-run schemes to specialist options for key workers and specific professions, there may be additional support available depending on your circumstances.
Mortgage schemes are constantly evolving, with new initiatives being introduced and existing ones changing or closing. Eligibility criteria can also vary, making it important to stay up to date with the latest options.
Our mortgage advisors can help you explore the schemes currently available and find the best route to homeownership for you.
We’re here when it suits you, with flexible appointments that fit around your lifestyle.
Expert mortgage advice with no upfront fees, so you can explore your options without commitment.
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Clear and simple explanations to help you understand your protection options without the confusion.
Access to a wide panel of lenders, giving you more choice when it comes to finding the right mortgage.
Our expert mortgage advisors have years of experience helping buyers secure the right mortgage.
From your first enquiry to getting your keys, we’re here to make the process as easy as possible.
First time buyers have access to several government mortgage schemes designed to make homeownership more affordable.
The First Homes Scheme offers a discount of 30% to 50% on eligible properties, while Shared Ownership allows buyers to purchase a percentage of a home and pay rent on the remaining share.
The Mortgage Guarantee Scheme helps buyers secure a 95% mortgage with just a 5% deposit, and a Lifetime ISA can provide a 25% government bonus towards a deposit.
Each scheme has different benefits, and the right one will depend on your financial situation and long-term plans.
While many affordable home ownership schemes focus on first time buyers, there are still options available for existing homeowners.
The Mortgage Guarantee Scheme supports home movers by making low-deposit mortgages more accessible.
Right to Buy allows eligible council and housing association tenants to purchase their home at a discount, helping them transition from renting to owning.
Some lenders and local councils also offer schemes to assist homeowners looking to move or remortgage.
The best government housing scheme for you depends on your financial situation, homeownership status and future plans.
First time buyers may benefit from the First Homes Scheme, Shared Ownership or the Mortgage Guarantee Scheme, while home movers could explore Right to Buy or low-deposit mortgage options.
Getting mortgage advice from an expert can help you assess your eligibility and help you choose the most suitable scheme based on your deposit, income, and borrowing needs.
Yes, several mortgage schemes are designed to support buyers with a low deposit.
The Mortgage Guarantee Scheme allows buyers to secure a mortgage with just 5% deposit, while Shared Ownership lets you buy a portion of a home with a lower upfront cost.
If you’re a first time buyer, a Lifetime ISA can boost your savings with a 25% government bonus, helping you build your deposit faster.
Some lenders also offer 95% mortgages outside of government schemes, and a mortgage advisor can help you explore all available options.
Most mortgage schemes require buyers to secure a mortgage to cover at least part of the purchase price.
For example, the First Homes Scheme requires a mortgage covering at least 50% of the discounted price, while Shared Ownership buyers typically need a mortgage for their share of the property.
Some schemes, like Right to Buy, allow buyers to use the discount as part of their deposit, potentially reducing the mortgage needed.
A mortgage broker like us can help you find a lender that supports your chosen scheme.
In some cases, you may be able to use multiple affordable home ownership schemes together.
For example, a Lifetime ISA can be used alongside the First Homes Scheme or Shared Ownership to help with your deposit. However, not all schemes can be combined, and eligibility criteria vary.
Speaking to a mortgage advisor can help you understand which schemes work together and what options best suit your situation.
Some government housing schemes prioritise key workers, depending on local council policies.
The First Homes Scheme allows councils to set local eligibility criteria, which may give priority to key workers such as NHS staff, teachers, and emergency service workers.
Other regional schemes may also be available to help key workers access affordable homeownership.
A mortgage advisor can check which schemes apply to your profession.
Yes, but some mortgage schemes have restrictions on how and when you can sell.
With the First Homes Scheme, the same discount must be passed on to the next buyer.
If you purchase through Shared Ownership, you may need to offer the property to your housing provider first before selling on the open market.
Right to Buy properties can be sold freely, but selling within five years may require you to repay part of the discount
Understanding the long-term implications of each scheme is important, and a mortgage broker can help you make the right choice.
Some mortgage schemes are time-limited, such as the Mortgage Guarantee Scheme, which is set to end in June 2025.
If a scheme closes, applications will no longer be accepted, but if you’ve already purchased a home through it, your agreement will remain in place.
New schemes may be introduced to replace existing ones, so it’s always worth checking for the latest options.
A mortgage broker can help you stay informed about current and upcoming schemes.
Over the years, several government mortgage schemes have helped buyers onto the property ladder, but some have now ended.
The Help to Buy Equity Loan scheme, which provided a government loan to boost deposits on new-build homes, closed in March 2023.
The Help to Buy ISA, which offered a 25% savings bonus for first-time buyers, stopped accepting new applications in November 2019, though existing account holders can still use their savings.
While these schemes are no longer available, new initiatives continue to be introduced, and a mortgage advisor can help you explore the latest options.
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UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© UK Moneyman Limited 2025.
UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© UK Moneyman Limited 2025.
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