You could get a loan to help you:
There are also schemes for:
Please note HSBC does not participate in this scheme.
The Help to Buy: Equity Loan scheme will close to new applications at 18:00 on 31 October 2022.
The government will lend you up to 20% of the equity of a new-build home (up to 40% in London). You will need a 5% deposit and a mortgage of up to 75% to make up the rest (up to 55% in London).
There's an interest-free period for the first 5 years. After this, you’ll need to pay interest on the loan and, if you sell the property, you’ll need to repay any outstanding amount.
The amount you pay back is worked out as a percentage of the market value. If the market value of your home goes up, so does the amount you owe on your equity loan. Likewise, if the value of your home falls, the amount you owe on your equity loan falls too.
Help to Buy: Equity Loan rules are different in Wales, Scotland and Northern Ireland.
For more information, including eligibility requirements, visit GOV.UK: Help to Buy Equity Loan.
If you can’t get a mortgage to buy a property outright, a shared ownership scheme could enable you to buy a proportion of your home through a housing association. You then pay rent on the rest.
For example, if you bought a 50% share of a property valued at £100,000, then you would pay rent on the remaining £50,000.
Shared ownership gives you the flexibility to increase the share of the property that you own. Most providers will allow you to buy 100% of the property over time, however, there are some that do not allow this.
For more information, including eligibility requirements, visit GOV.UK: Shared ownership homes.
The Right to Acquire scheme makes it possible for existing housing association tenants to buy their rented home at a discount.
For more information, including eligibility requirements, visit GOV.UK: Right to Acquire.
Similar to the Help to Buy equity Loan scheme, but available exclusively to regular members of the armed forces.
Under this scheme, you can borrow up to 50% of your salary interest-free (limited at £25,000) to raise a deposit.
For more information, including eligibility requirements, visit GOV.UK: Forces Help to Buy.