rating button

Coronavirus (COVID-19) For information on changes to our services, what you can do to protect yourself, support your community and guidance to assist employers and businesses visit our Coronavirus pages.

Help to buy a home

There are several different options for buying an affordable new or existing shared ownership home funded through the government's Help to Buy programme.

Current schemes include:

Shared Ownership

Shared ownership homes are mainly brand new houses for sale on a part buy/part rent basis through different housing associations. It is possible to purchase shares of between 25% to 75% of the home's market value and you pay a low rent on the remaining share.

Shared Ownership - Home Ownership for people with long term disabilities (HOLD)

You can apply for a scheme called home ownership for people with a long-term disability (HOLD) if other Help to Buy scheme properties don’t meet your needs, eg you need a ground-floor property. With this scheme you can buy up to 25% of your home.

Equity Loan

Open to both first-time buyers and home movers on new-build homes in England with a purchase price up to £600,000.

  • You’ll need to contribute at least 5% of the property price as a deposit
  • The government will give you a loan for up to 20% of the price
  • You’ll need a mortgage of up to 75% to cover the rest

Rental schemes – Intermediate rent / Rent to Buy

Rent to Buy properties are new homes for rent. The rents are approximately 20% cheaper than a similar property on the open market and it is expected that you will purchase the home on a shared ownership basis at the end of the rental period.

  • An affordability check will be carried out to confirm that you will be able to afford the rent from the start and that you can buy a share later on.
  • You will usually need a month's rent and a deposit at the tenancy start date.

Register

External links

Contact