Help to Buy Equity Loans and Shared Ownership
Help to Buy Equity Loans is a government scheme designed for new-build properties to help you to own your first home or to move up the property ladder.
The government lends you up to 20% in England and Wales, 15% in Scotland and 40% in London towards the cost of your home, so you'll only need a cash deposit of 5% of the sale price (or 10% if you're buying in Scotland) and a 75% mortgage to make up the rest. Help to Buy Equity loans are only available if you meet the eligibility criteria and you're buying a new-build home. You can find out more about the government Help to Buy equity loan scheme on the government's website below.
Help to Buy for England and Wales
Help to Buy for Scotland
Shared Ownership allows you to buy a share of the home and pay rent for the rest. This means you take a smaller mortgage, so the deposit required is lower. However, you need to make sure you budget for your monthly mortgage payments plus the rent.
Want to find out more about Shared Ownership? Read our handy guide to shared ownership.
For more information on these and other government schemes, visit our Government Schemes page.