30/09/2026
Saving for a home is hard, especially in this economy! 💷😪
So I'm here to make it a little easier 🙌🏻
Following Andy Burnham’s announcement of his new help to buy scheme for first time buyers, I thought I’d let you know of a few others, so you have all the options!
👉🏻 NEW "Your First Home" Initiative: A proposed equity loan scheme requiring a tiny 2.5% deposit. The government provides a 20% interest-free loan (for an initial period) toward a new-build property.
👉🏻 First Homes Scheme: Offers specific new-build properties at a 30% to 50% discount to local first-time buyers, capped at property prices of £250k (£420k in London).
👉🏻 Shared Ownership: Allows you to buy a share of a home (between 10% and 75%) and pay a subsidised rent on the remaining portion. You can buy more shares later ("staircasing").
👉🏻 Lifetime ISA (LISA): If you are aged 18–39, you can save up to £4,000 a year here and get a 25% government bonus (up to £1,000 free cash each year) toward a home up to £450k.
👉🏻 Mortgage Guarantee Scheme: Backs lenders to offer 95% mortgages, meaning you only need a 5% deposit to buy a home on the open market.
Deciding which scheme fits your budget best, depends entirely on your savings and whether you want a brand-new or an older home.
Once you choose a path, the legal side moves fast! Make sure you instruct a solicitor early to handle the extra paperwork these schemes often require.
Are you considering buying your first home? Save this post.
Is your friend starting to make their move? Send this to them.
It might just save you a few headaches and pennies!
As always, if you have any questions, leave them in the comments and I will assist with any legal questions
