From Shared Ownership to Lifetime ISAs, discover all the government schemes available to help you onto the property ladder.
Getting on the property ladder remains challenging, but numerous schemes exist to help first-time buyers. Here's a comprehensive guide to what's available.
## Shared Ownership
### How It Works - Buy 25-75% of a property - Pay rent on remainder - Staircase to full ownership over time
### Eligibility - Household income under £80,000 (£90,000 in London) - Cannot afford to buy outright - First-time buyer (or lost home)
### Pros and Cons ✅ Lower deposit (5% of share) ✅ Access to better areas ❌ Rent plus mortgage payments ❌ Restrictions on modifications
## First Homes Scheme
### How It Works - New build homes sold at 30-50% discount - Discount locked in permanently - Priority for local buyers, key workers, first-time buyers
### Eligibility - First-time buyer - Household income under £80,000 (£90,000 London) - Property price cap after discount
## Lifetime ISA
### How It Works - Save up to £4,000 per year - Government adds 25% bonus (up to £1,000/year) - Must be aged 18-39 to open
### Rules - Must use for first property or retirement - Property must be £450,000 or less - Penalty for early withdrawal
## Help to Build
### How It Works - Self-build mortgage support - Lower deposit requirements - Staged payments during construction
## Regional Schemes
Different schemes in Scotland, Wales, and Northern Ireland—check local variations.
## Which Scheme Is Right?
**Low deposit?** → Lifetime ISA + Shared Ownership **Good income, low savings?** → Shared Ownership **Self-employed?** → First Homes (if available) **Building own home?** → Help to Build