- Uswitch.com>
- Mortgage guides>
- Help To Buy Mortgage Schemes UK 2025
Help to Buy mortgages
The Help to Buy scheme is still open for applications in Wales. So, if you're looking to buy a property there, you could buy an eligible property with a deposit of just 5%. Find out more about the scheme and how it works.
Can you still apply for a help to buy mortgage?
It depends where in the UK you live. Help to Buy Wales is still open for applications until September 2026.
In England you can no longer apply for the Help to Buy scheme, which closed to applicants in October 2022. Scotland and Northern Ireland don't currently have live Help to Buy schemes either.
The good news, though, is that there are a number of alternative home ownership schemes across the UK, as well as specialist mortgages to help first-time buyers or those struggling to afford a traditional mortgage.
Alternatives to Help to Buy
Unless you're in Wales, the Help to Buy scheme is no longer an option, but one of the following alternative home ownership schemes may be helpful:
Shared ownership mortgages
Shared ownership, sometimes called share to buy, is another government backed scheme, but is available nationwide. It allows you to buy a percentage of a home (10-75%) and rent the remainder from a housing association. In most cases you can continue to increase ownership when you can afford to, until you own the property outright.
First Homes Scheme (England)
This scheme is only available in England, and involves new build properties that are available at 30% to 50% below market value. It's available to first-time buyers with a household income of £80,000 or less (£90,000 in London). Key workers, and those on a low-income, or with links to the area of their chosen property are likely to be prioritised.
Homebuy scheme (Wales)
Available in some parts of Wales, the Homebuy scheme provides an equity loan of around 30% of a new build property’s value, so that you only need to borrow 70% with a mortgage. It’s intended for people who qualify for social housing and can’t afford to carry on living in their current home or are in a home that doesn’t meet their needs.
LIFT Scheme (Scotland)
The Low Cost Initiative for First-time Buyers (LIFT) in Scotland has two slightly different scheme options, the New Supply Shared Equity (NSSE) scheme and the Open Market Share Equity (OMSE) scheme. Both schemes are open to priority groups, as well as first-time buyers.
Both are shared equity schemes, so they work in a similar way to the help to buy scheme. You borrow an equity loan from the government, meaning you won’t need to borrow as much or find such a large deposit to get a mortgage.
Rent to buy Scheme (England)
Rent to buy is a home ownership scheme available in England that provides tenants with reduced rent on new build homes, allowing them more opportunity to save for a deposit to purchase the property later.
It’s known under a variety of names, each with slightly different rules, depending on the area and housing association. For example, the London living rent scheme accounts for the higher cost of living in the capital. There is also a very similar scheme in Northern Ireland called rent to own.
Right to buy/ Right to Acquire (England)
The right to buy scheme provides some council tenants the opportunity to buy their rented home at a discount of up to 70%, based on the length of their tenancy and property value. Check your eligibility for the right to buy scheme.
The right to acquire scheme is very similar, but is intended for housing association tenants. The discount is lower than the right to buy scheme, at £9,000-£16,000 depending where you live. Check your eligibility for the right to acquire scheme.
Deposit Unlock Scheme
The first non-governmental home ownership scheme, ‘deposit unlock’ was developed by the Home Builders Federation in 2022. Unlike most home ownership schemes, this is open to home movers, as well as first-time buyers.
This scheme is available across the UK, but there are regional variations in availability and maximum property value. It offers applicants the opportunity to buy a new build home with 5% deposit - rather than the standard 15%. Mortgages to be used alongside this scheme can only be accessed via a mortgage broker.
Guarantor mortgage
Unlike home ownership schemes, getting a guarantor mortgage will depend on having a relative or friend who can help you buy a home. A guarantor often uses their own home to secure your borrowing, and will be liable for any outstanding mortgage repayments - even though they have no claim to the property.
For those with family members who could support them, this is a great way to get onto the property ladder and potentially borrow up to 100% of the cost of your new home.
Family assisted mortgages
There are a couple of other mortgage products that allow family members to help you buy your first home known as family assisted mortgages. They could also potentially allow you to access a 100% LTV mortgage.
A family assisted mortgage allows you to borrow more and potentially pay less interest by linking a relative's savings account to your mortgage
A joint borrower sole proprietor (JBSP) mortgage allows someone to share the mortgage repayments with you, without them having any ownership over the home
Compare your mortgage options
If you're looking to buy your first home, our broker partner Mojo can help you compare mortgage products and find the right option for you.
What is the Help to Buy scheme?
The Help to Buy Scheme Wales is an equity loan scheme for first-time buyers who can buy a new build property with a deposit of just 5%. An equity loan from the government of up to 20% of the property’s value tops up your deposit, so you don’t need to borrow as much or find as large a deposit for your mortgage.
The equity mortgage needs to be repaid within 25 years, but you’re free to pay it off at any point within that period. For the first five years the equity loan is interest-free. From year six onwards, you pay a monthly interest fee of 1.75% of the equity loan. Interest fees rise each year by the Consumer Price Index (CPI), plus 2%.
How do Help to Buy mortgages work?
Once you’ve found a home you want to buy through the Help to Buy scheme and are approved for an equity loan, you can apply for the mortgage you need with a lender. There is no specific mortgage needed - they work in the same way as any other mortgage. It’s just a case of finding a lender willing to accommodate help to buy applicants.
Help to Buy mortgage interest rates depend on the mortgage type and your personal circumstances, but different lenders will also be able to offer different rates, so be sure to compare mortgage deals first.
Who is eligible for a Help to Buy mortgage?
You can only apply for a Help to Buy mortgage if you meet the eligibility guidelines for the Help to Buy scheme. You'll also need to satisfy the mortgage provider’s lending criteria and have a good credit rating in order to qualify for a Help to Buy mortgage.
To qualify for the help to buy scheme in Wales you must:
Buy an eligible home, with a maximum price of £300,000 from a builder who is registered with the scheme
Be able to fund at least 80% of the property price through a combination of a repayment mortgage and your combined deposit (your own money plus the equity loan)
Provide a minimum deposit of 5% of the purchase price - although the best help to buy mortgages will be available to those with a larger deposit
Take out a first charge repayment mortgage with a qualifying lender
Not sub-let any part of the house you are buying through the scheme
Not rent your existing home and buy a second home through the scheme
Pros and cons of using the Help to Buy scheme
Increased affordability. It helps you to buy a first home, when you otherwise might not be able to afford to
Low deposit requirement. You can buy a home with a deposit of as little as 5% of the property’s value
Access to potentially more competitive rates. As you only need a mortgage of 75% or less of the value of the property (also known as 75% loan-to-value), you may be able to access more competitive interest rates from mortgage lenders
Initial interest-free period. You don’t have to pay interest on the equity loan for the first five years
Limited property choice. The scheme is restricted to the purchase of new-build homes only
Property price cap: There is a maximum property value limit of £300,000
Future interest payments. After the initial five-year period, interest payments on the equity loan begin and increase annually
Variable repayment amount. How much you repay on the equity loan depends on the value of the property at the time. So, if the cost of your home rises, you'll pay back more than you borrowed
Compare your mortgage options
If you're looking for free mortgage advice, our partners at Mojo Mortgages could help. They'll assess your eligibility and affordability, before recommending the mortgage options that are the best fit for your circumstances.
Help to Buy could still help home buyers in Wales to purchase a property sooner than they would otherwise be able to. Be sure to consider how you'll repay the government Equity Moan, however, as a big increase in property value could mean you pay back much more!”Laura Hamilton, Mortgage Expert
Help to Buy FAQs
When will Help to Buy end?
In Wales the scheme will end in September 2026. There are not currently any active Help to Buy schemes available in England, Scotland or Northern Ireland.
Can I use the Help to Buy scheme for a second home?
No. The property you buy through the scheme must be the only home you own and live in.
How do I apply for Help to Buy?
To apply for the scheme in Wales, you must first find a Help to Buy-approved financial adviser and a property being sold by a registered Help to Buy builder. You then need to submit an application form to Help to Buy (Wales). Visit gov.wales to find out more.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
The FCA does not regulate mortgages on commercial or investment buy-to-let properties.
Uswitch makes introductions to Mojo Mortgages to provide mortgage solutions.
Uswitch and Mojo Mortgages are part of the same group of companies. Uswitch Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 312850. You can check this on the Financial Services Register by visiting the FCA website.
Uswitch Limited is registered in England and Wales (Company No 03612689) The Cooperage, 5 Copper Row, London SE1 2LH.
Mojo Mortgages is a trading style of Life's Great Limited which is registered in England and Wales (06246376). Mojo are authorised and regulated by the Financial Conduct Authority and are on the Financial Services Register (478215)
Mojo’s registered office is The Cooperage, 5 Copper Row, London, SE1 2LH. To contact Mojo by phone, please call 0333 123 0012.