Affordable home ownership and Help to Buy
If you are looking to buy a home of your own, the following schemes exist to help make this possible:
- Shared Ownership – if you can’t quite afford the mortgage on 100% of a home, Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. You could then build up your share in your home over time.
- Help to Buy – with this scheme you can put down as little as a 5% deposit on a newly built home and get a Government equity loan – for up to 40% of the purchase price. The maximum price for the property being purchased has to be £600,000.
- First Dibs – an initiative to ensure new lower-cost homes are available to Londoners and UK residents before buyers from overseas. These homes are advertised London-wide only for either one week or one month. Find out which Registered Providers have signed up to this.