Government Schemes

Scheme 1: Shared Ownership

Scheme Description: The occupier purchases a proportion of a property e.g. 25%, with the remainder of the property typically owned by a housing association.

How it works? The occupier therefore only needs to fund the purchase of their share, meaning that in high value areas the amount you need to borrow is considerably lower and deposit levels reduced. The occupier will also be required to pay a rent to the holder of the remainder of the property, usually the housing association.

Entry Requirements: The minimum deposit for shared ownership is typically 5% of the share, although there are 0% schemes available from time to time. The occupier will be required to be able to afford the full loan amount and the rental amount for the share held by the other body or housing association.

Scheme 2: Right to buy/Acquire

Scheme Description: This scheme refers to the ability purchase the council home (right to buy) or housing association home (right to acquire) that you currently reside in. You will usually receive a discount on these properties which can be used towards your deposit.

How it works?

Right to buy:
You will need to contact your local council to request the right to buy. At this point and if you are eligible the council will ascertain the value of the property and the discount which you are eligible for. Right to buy discounts are typically higher than the right to acquire.

Right to acquire:
A similar scheme to the right to buy but for housing association stock, the right to acquire gives non-homeowners in the social renting sector the chance to buy their home. Right to acquire is currently for participating housing associations only. Unlike the Right to buy which is based on a percentage of discount, the right to acquire is a fixed monetary figure depending on which area of the country you reside in. You will need to contact your housing association to find out what you may be eligible for.

Entry Requirements

Right to buy:
Have resided in your council home for a minimum of 5 years. If you still reside in a property which has since transferred to a housing association you may still have the right to buy.

Right to acquire:
Although a smaller discount typically the right to acquire is applicable after just 2 years of your tenancy with the housing association.

Scheme 3: Help to Buy Equity loan

Scheme Description:
The Government will assist you in purchasing a new build home by providing a loan towards your deposit.
How it works? The Government will provide a loan (20% of the value of the property outside of London or 40% inside of London) towards the purchase of a new build home. You must start making payments on this loan after the first 5 years. You therefore must fund the remainder of the purchase with a minimum of 5% deposit and remainder mortgaged.

Entry Requirements:
You must be a first time buyer and the home must be newly built with a price tag of up to £600,000. You must have a minimum of 5% of the purchase price to provide as a deposit. In order to apply you must find your local help to buy office on

Scheme 3: Help to Buy ISA

Scheme Description:
A slightly different scheme, which can be used in conjunction with any of the above schemes and can be used by EACH purchaser (if joint). This is a savings account, which when you save into it the government will pay in too when you come to purchase a property.

How it works? When you pay into your help to buy ISA you will receive 25% on your savings (up to a maximum of £200 per month, and a savings limit of £12,000) towards your deposit when you use the funds to purchase your first home.

Entry Requirements:
You must be a first time buyer and have saved a minimum of £1,600 in the help to buy ISA before you purchase a property. Remember that each savings account can be held by one individual, so if you are a couple purchasing a home you are entitled to use this twice! The maximum bonus you can receive is £3000 each from the government (based on £12,000 savings).


OnPoint Mortgages a trading style of L&D Mortgages Ltd is an appointed representative of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority.

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