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 right 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.