Help to Buy & UK Government Home-Buying Schemes

The original Help to Buy equity loan scheme in England closed to new applications in October 2022. Several alternative schemes remain available — here's what's actually open in 2025.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Quick summary

Help to Buy equity loan (England) — closed October 2022.
Help to Buy ISA — closed November 2019. Existing accounts can still earn the 25% bonus until November 2030.
Lifetime ISA (LISA) — still open. £4,000/year cap, 25% government bonus.
Shared Ownership — still widely available.
First Homes scheme — 30–50% discount on selected new builds in England.
Mortgage Guarantee Scheme — supports 95% LTV mortgages, extended to 2025.
Right to Buy (England) — eligible council tenants can buy with discount.
Wales and Scotland have their own equivalent schemes.

What lenders may look at

Which scheme you're using
Property type and developer (for First Homes)
LISA contributions and bonus history
Lender appetite for the scheme — not all lenders work with all schemes

Documents you may need

Scheme-specific paperwork (e.g. First Homes designation)
LISA statements showing contributions and bonus
Standard mortgage application pack

Common issues

Using LISA funds for a property over £450,000 — incurs a 25% withdrawal penalty.
First Homes properties may have ongoing resale restrictions.
Shared Ownership leases need careful review — lease length, ground rent, service charge.
Help to Buy equity loan repayment — for existing borrowers, repayment is based on current property value, not purchase price.

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This is an estimate only. Lenders use their own affordability models, income treatment, credit checks, property checks and stress tests.

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Frequently asked questions

Is Help to Buy still available? +

The equity loan scheme in England closed in October 2022. The 5% deposit Mortgage Guarantee Scheme is a different scheme that helps lenders offer 95% LTV mortgages.

Should I use a LISA? +

For most first-time buyers under 40 buying under £450,000, yes — the 25% bonus is a substantial boost. Avoid if you might buy above £450k or might withdraw for non-property reasons.

What's Shared Ownership? +

You buy 25–75% of a property and pay rent on the remainder. Over time you can buy more shares (staircasing). Mortgage is on the share you own. Run mainly through housing associations.

What's the First Homes scheme? +

30–50% discount on selected new-build homes in England, with the discount permanent (passing to future buyers). Local connection or key-worker priority in some areas.

Will my Help to Buy equity loan payment go up? +

After year 5, you start paying interest on the equity loan at 1.75% rising with RPI+1% each year. Many borrowers remortgage to repay the equity loan at this point.

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