Directory INFORMATION PROVIDED BY OWNYOURHOME.GOV.UK
CHECK WHICH SCHEME IS RIGHT FOR YOU! With a range of Government schemes available to make buying a home more affordable, nd out which scheme is right for you.
SHARED OWNERSHIP
FIRST HOMES
RIGHT TO BUY If you’re a council tenant in England, the Right to Buy scheme could help
A new scheme supporting local rst
If you can’t quite afford to buy 100% of a home, you could buy a share of a home instead and pay rent on the rest.
time buyers, including key workers, on to the property ladder by offering new build homes with at least a 30% discount compared to market prices.
you buy the home you rent with a discount of up to £87,200 (£116,200 in London).
SHARED OWNERSHIP RESALES
PRESERVED RIGHT TO BUY
RENT TO BUY/LONDON LIVING RENT Rent to Buy gives tenants in England the chance to rent a home at Intermediate Rent, providing them with the opportunity to save for a deposit over time to purchase the home. The scheme is available in England, apart from London. Properties in London are covered by a separate scheme called London Living Rent.
If you’re a housing association tenant in
If you can’t afford to buy a whole home, you could
England you could be eligible to buy the home you rent with a discount of up to £87,200 (£116,200 in London).
buy the same share of a home bought by its current owner when they used a shared ownership scheme.
STAMP DUTY LAND TAX RELIEF
HOME OWNERSHIP FOR PEOPLE WITH LONG-TERM DISABILITIES (HOLD)
Stamp Duty Land Tax (SDLT) is a tax on property purchases. First time buyers pay a reduced rate of zero SDLT on the rst £425,000 and 5% on the amount between £425,001 and £625,000. No discount applies on homes over £625,000. The level of relief will be reduced from 1 April 2025.
THE MORTGAGE GUARANTEE SCHEME
If you have a long-term disability, the HOLD scheme in England could help you buy any home for sale on a shared ownership basis.
A UK-wide Government scheme to help to increase the supply of 5% deposit mortgages for credit-worthy households by supporting lenders to offer these products through a Government-backed guarantee on new 95% mortgages.
OLDER PEOPLE’S SHARED OWNERSHIP (OPSO)
If you’re aged 55 or over, the OPSO scheme could help you own up to 75% of any home that’s for sale on a shared ownership basis.
FIND OUT MORE For a more detailed description of each scheme please visit ownyourhome.gov.uk
104 First Time Buyer February/March 2025
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