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Property Buying Guide

What is a key worker?

The government's HomeBuy schemes are currently intended mainly for key workers in London, the South East and the East of England but it will be available on a more limited basis to social tenants and other priority first time buyers uncluding those with an annual household income of £60,000 or less.

Key workers include all clinical NHS staff except doctors and dentists, local authority employed clinical staff, teachers in schools and sixth form colleges, lecturers in further education, qualified nursery nurses in local education authority (LEA) nursery schools, police officers and community support officers, prison and probation officers, social workers, occupational therapists, educational psychologists, speech and language therapists, local authority planners, uniformed staff in fire and rescue service, members of the armed forces in London and the South of England and rehabilitation officers for the visually impaired.

How to Apply

Contact your HomeBuy agent

The eligibility criteria vary, depending on the local recruitment and retention situation. You need to go directly to a HomeBuy agent to see whether you qualify for the scheme.

Typically, workers who can get help are:

NHS and local authority employed clinical staff except doctors and dentists.

Teachers and nursery nurses in schools and further education.

Police officers and community support officers.

Prison and probation service staff.

Social workers, nursery nurses, educational psychologists and therapists employed by local authorities, the NHS or CAFCASS.

Local authority planners.

Firefighters and other uniformed staff below principal level in fire and rescue services.

Members of the armed forces based in London and the South of England.

To find out which key worker schemes are operating in your area and whether you qualify, contact your local HomeBuy agent.
 
Find out More About Shared Equity:

HomeBuy Direct shared equity UK scheme l What help is on offer for key workers? l HomeBuy agents

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Interest rates are low but could rise? Is this a good time to buy?

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Varialbe rate mortgages go up if bank interest rates do. Which is your preference?

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Interest only mortgages are cheaper but in the end you don't end up owning the property. Which is better?

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House prices are waivering. Do you think this is a good time to buy?

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Shared equity mortgages allow you to buy a new home with 5% deposit and an equity loan through FirstBuy. What do you think?

Too complicated
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Rent to buy allows you to peg a property price, save towards a deposit and pay reduced rent. What do you think?

Works best in a rising market
Too complicated
Good option