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Affordable home ownership


There are a number of Government backed affordable home ownership schemes available.  This page provides an overview of those schemes along with links to website wher you can find out more information.

Help to Buy

The Government created a range of Help to Buy products to assist those who otherwise wouldn't be able to get a foot on or up the housing ladder.

Whether you are looking to get onto the housing ladder or move up it, there are a number of Help to Buy products designed to make buying a home more affordable, including:

Shared ownership

Shared ownership is designed for those who cannot afford to purchase a property on the open market. This scheme allows you to purchase a percentage share of a property whilst renting the remaining share from the housing association selling the property. You can then choose to purchase further shares to increase your ownership of the property.

This scheme can be available on New Build and also re-sale shared ownership properties which have previously been purchased through the scheme and now looking to be sold. You can search for these properties on the right move website, the share to buy website and on the Moat Homes website.

Help to Buy Equity Loans

Equity loans are designed to help you purchase specific new-build properties priced up to £600,000 from participating registered developers with as little as a 5% deposit.

The Government lends you up to 20% of the cost of your new-build home, so you'll only need to provide a 5% cash deposit and a 75% mortgage to make up the rest. You also will not be charged loan fees on the 20% loan for the first five years of owning your home. More information is available on the help to buy website.

Help to Buy ISA

If you are saving to buy your first home, save money into a Help to Buy: ISA and the Government will boost your savings by 25%. So, for every £200 you save, receive a government bonus of £50. The maximum government bonus you can receive is £3,000. More information is available on the help to buy website.

Social HomeBuy

Some councils and housing associations offer Social HomeBuy, which allows you to buy a share of your council or housing association home and pay rent on the rest of it. Contact your social landlord to find out if they run the scheme and if you're eligible. More information is also available on the home buy service website.

Right to Buy and Right to Acquire

Council tenants who have held a secure tenancy for at least 5 years may be eligible to buy their home at a discount under the Right to Buy. To check whether you are eligible for right to buy click here. Some housing association tenants who have held a tenancy for at least 5 years may be eligible to buy their homes at a discount under the Right to Acquire. Check with your housing association to see if you're eligible.