Government Schemes for New Build Buyers

Understanding Your Options

What Schemes Are Currently Available?

Help to Buy has now closed to new applicants in England. However, several other government-backed schemes remain active and can make a meaningful difference, particularly for first-time buyers and key workers. The right scheme depends on your income, the type of property you want to buy, and where you are buying.

⭐ Most Popular for First-Time Buyers

First Homes Scheme

The First Homes Scheme offers a discount of at least 30 percent on the market value of selected new build homes. The discount is funded by the developer and passed on to eligible buyers. To qualify, you must be a first-time buyer, meet an income cap, and the property must be in the scheme. When you eventually sell, the same percentage discount must be passed on to the next buyer. We have a dedicated First Homes section with full details of eligibility and how the scheme works.

Advantages

Minimum 30 percent discount on market value, meaning lower deposit in cash terms and lower stamp duty on the reduced price

Considerations

Income cap applies (currently around 80,000 pounds outside London) and the resale discount limits your future sale price

Standard Variable Rate

Shared Ownership

Shared Ownership allows you to buy a share of a property, typically between 25 and 75 percent, and pay rent on the remaining share owned by a housing association. You need a mortgage only on the share you are purchasing, which means a smaller deposit in cash terms. Over time you can buy additional shares until you own the property outright, a process known as staircasing.

Advantages

Smaller deposit required than full ownership, with a route to owning the property outright over time through staircasing

Considerations

Monthly cost includes both a mortgage payment and rent on the unsold share, and service charges apply to most flats

Popular with Short-Term Buyers

Mortgage Guarantee Scheme

The Mortgage Guarantee Scheme allows lenders to offer 95 percent LTV mortgages with government backing for the portion above 80 percent. This helps buyers with a 5 percent deposit access mortgages that might otherwise not be available. The scheme covers both new build and resale properties up to a certain value. Not all lenders participate, and we always check current availability before recommending this route.

Advantages

Helps buyers with a 5 percent deposit access 95 percent LTV mortgages on both new build and resale properties

Considerations

Not all lenders participate and scheme terms can change, so always verify current availability before applying

Not all lenders participate in every scheme, and the mortgage products available within schemes can be limited. We know which lenders are active in each scheme at any given time and can match you to the right product.

Less Common for First-Time Buyers

Which Scheme Is Right for You?

The best scheme depends on your income, your deposit size, the property you want to buy, and where it is located. First Homes is typically best suited to buyers who want to buy outright but cannot afford full market value. Shared Ownership suits buyers who have a smaller deposit or want a structured route to full ownership. The Mortgage Guarantee Scheme is relevant if your main issue is deposit size rather than purchase price.

We help you assess which route, if any, makes sense for your situation. If a mainstream mortgage without a scheme gives you better options, we will tell you that too.

For full details on the First Homes Scheme, including eligibility criteria and how the discount works on resale, visit our dedicated First Homes section.

Get in touch for a free conversation. We will tell you honestly which schemes you are eligible for and whether using one gives you a better outcome than buying on the open market without scheme assistance.

Scheme availability and terms change over time. We check current status regularly and always confirm what is available before making a recommendation. Contact us to find out what is currently on offer for your situation.

Government Schemes for New Build Buyers

What Schemes Are Currently Available?

First Homes Scheme

Shared Ownership

Mortgage Guarantee Scheme

Which Scheme Is Right for You?

Useful Calculators

Related Guides

Government Schemes for New Build Buyers

What Schemes Are Currently Available?

First Homes Scheme

Shared Ownership

Mortgage Guarantee Scheme

Which Scheme Is Right for You?

Useful Calculators

Related Guides

Ready to Take the First Step?

Speak to one of our fee-free mortgage advisers today. We'll calculate your affordability, explain your options, and help you move forward with confidence.