Government schemes for first time buyers
Government schemes for first time buyers
The Government has a number of schemes designed to help first time buyers - not just key workers but others from households where the anual earnings are under £60,000 and in rare cases, with less stringent criterea:
Home ownership schemes:
HomeBuy Direct - Details of a scheme offering an 'equity loan' of up to 30 per cent if you are a first time buyer who can't afford a mortgage. For new-build homes.
Key Worker Living programme - Details of the Key Worker Living scheme – how it works, who is eligible and how to apply
Low-cost home ownership schemes - A guide to all the low-cost home ownership schemes available if you are a council or housing association tenant, keyworker or first-time buyer
Right to Acquire - Help to buy your housing association home - Find out if you are eligible for the Right to Acquire scheme
The Right to Buy scheme - What the scheme is, who is eligible, and details of the application process
Open Market HomeBuy scheme - No longer available. Details of affordable shared equity housing schemes for buying on the open market
Social HomeBuy - shared ownership of your council or housing association propertyHow the scheme works and who can apply
New Build HomeBuy scheme - Details of the New Build HomeBuy shared ownership and First Time Buyers Initiatives
Find a
HomeBuy Agent in your area - Contact details for HomeBuy agents who administer Open Market and New Build HomeBuy schemes amongst others.
Rent to HomeBuy scheme - Rent before you buy. Find out about eligibility and details of this scheme which may allow you to rent and then buy a newly built home
All these schemes require a mortgage so it's important you seek
mortgage advice to help you with that. To find out if you are eligible, you should also make contact with your local
HomeBuy Agent.
Useful Links:
www.Direct.gov.uk