Government schemes

If you are a first-time buyer struggling to get onto the property ladder, a council tenant or a member of the armed forces looking to buy a home, help from government may be available.

There are a number of government housing schemes, ranging from Help to Buy to NewBuy to Firstbuy to Right to Buy, which offer a range of loans and discounts to eligible citizens.

Note that you will often have to go via an intermediary and take mortgage advice before gaining access to a government scheme.

It makes particular sense to listen to mortgage advice in these circumstances, as these schemes tend to be relatively complicated.

You might want to use our mortgage calculators before you start, to find out how much you can afford to borrow overall, and what your mornthy mortgage repayments might be.

Help to Buy attracts renters

Over 50% of homebuyers using the government's Help to Buy scheme were previously in private rented accommodation.

Ed Balls

Ed Balls demands action on rising house prices

Shadow Chancellor Ed Balls has called for changes to the Help to Buy scheme in London, accusing Chancellor George Osborne of failing to act over rising house prices.

Post Office

Post Office unveils Help to Buy fixed rates

The Post Office has launched two fixed rate products using the government's Help to Buy mortgage guarantee scheme allowing borrowers to apply for loans up to 95% loan-to-value.

housebuilders

Britain faces housing shortage equal to size of Birmingham

Britain is now facing a housing shortage of one million homes, equivalent to the number of houses in Birmingham, a report from the House Builders Federation claims.

british-army

Kensington to launch Forces Help to Buy

Specialist lender Kensington is set to offer Forces Help to Buy across its entire residential purchase range when the scheme launches next week.

ladder

Budget 2014: Support for Mortgage Interest extended to 2016

Chancellor George Osborne announced the Support for Mortgage Interest scheme would be extended to 20116 in his annual Budget speech today.

George Osborne is the UK Chancellor of the Exchequer

Osborne said to face £20bn black hole in Budget

George Osborne is potentially facing a £20bn black hole in the public purse when he delivers the next Budget, according to a re-creation of government models put together by the Financial Times.

redarrow

Average deposits falling

The government's Help to Buy schemes have helped to reduce the typical deposit by 6% last Autumn.

Scotland flag

203 move in with Help to Buy Scotland

1,205 households have applied for the Scottish Help to Buy equity loan and 200 have already bought.

help-to-buy

38% unaware of Help to Buy

Many aspiring mortgage borrowers are not aware of or are confused by the governments' housing schemes.

help-to-buy

750 homes bought using Help to Buy 2

Mortgages worth £1bn have been supplied to 750 homebuyers in the first three months of the scheme's life.

ipswich-building-society

Ipswich BS 95% LTV rate cut signals 'Help to Buy effect'

Ipswich Building Society’s decision to cut the rate on its 95% loan-to-value mortgage signals a more competitive first-time buyer market, a product specialist has suggested.

house

Virgin Money enters Help to Buy 2 market

Virgin Money has launched a range of Help to Buy 2 mortgages available up to 95% loan-to-value.

first-time buyer

First-time buyers monopolise Help to Buy 2

First-time buyers have accounted for 86% of all Help to Buy 2 mortgage applications so far.

estate-agents

Complaints to Property Ombudsman shoot up 16.4%

The number of consumers contacting the Property Ombudsman to complain about property sales or lettings has jumped 16.4% on 2012.

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