Government schemes that help you buy sooner.
Shared Ownership, First Homes, and the Mortgage Guarantee Scheme can dramatically reduce the deposit and mortgage needed for your first home in London. We advise on every current government scheme and find the mortgage that works alongside it — free, no obligation.
Government schemes available to London buyers right now
The landscape of government home-buying schemes changes regularly. Here are the main options currently available.
Shared Ownership lets you buy a share of a home — between 10% and 75% — and pay a subsidised rent on the portion owned by the housing association. Your mortgage covers only the share you are buying, making both the deposit and monthly payments substantially lower. You can purchase additional shares over time (staircasing) until you own outright.
First Homes is available on new-build properties and offers a minimum 30% discount off market value to eligible first-time buyers. Key workers are prioritised in many developments. In London, the maximum post-discount property value is £420,000. The discount is preserved permanently when you sell.
This scheme allows you to buy any eligible property (up to £600,000) with just a 5% deposit. The government guarantees the lender’s exposure above 80% LTV. Available to both first-time buyers and existing homeowners.
The Help to Buy ISA closed to new applicants in 2019 but existing holders can claim the 25% bonus until November 2029. The Lifetime ISA remains open — save up to £4,000 per year and earn a 25% government bonus (up to £1,000/year), usable on properties up to £450,000.
Not every scheme suits every buyer
Government schemes are designed to solve specific problems. The wrong scheme can create complications, so choosing the right one matters.
- Shared Ownership — best for buyers in high-value areas where even a small share is affordable
- First Homes — best for key workers looking for new-build properties
- Mortgage Guarantee Scheme — best for buyers with a 5% deposit who want open-market choice
- LISA — best for buyers with time to save who are buying under £450,000
- We compare all schemes for your specific income, deposit, and target area
| Scheme | Min Deposit | Property Type | Max Value |
|---|---|---|---|
| Shared Ownership | 5% of share | New & resale | Varies |
| First Homes | 5% | New-build only | £420k (London) |
| Mortgage Guarantee | 5% | Any property | £600,000 |
| Lifetime ISA | N/A (bonus) | Any property | £450,000 |
Government scheme figures — London
Based on clients we have advised across London and Essex.
How we help you buy using a government scheme
We review your income, savings, and target area to identify which scheme fits
Not all schemes are available in all areas, and not all buyers qualify for every scheme. We start by identifying which scheme genuinely works for your situation.
We secure a mortgage in principle so you can search with confidence
Once we know which scheme suits you, we secure a Decision in Principle from a lender familiar with that scheme.
We submit the full mortgage application and manage the process
Scheme mortgages often involve additional parties — housing associations, Help to Buy agents, or solicitors with specific scheme experience. We manage the mortgage side and coordinate with all parties.
We brief your solicitor on ISA bonus timing
If you are using a Help to Buy ISA or LISA, the bonus must be claimed through your solicitor at the right point. We make sure this is handled correctly — a missed ISA bonus is a common and avoidable mistake.
We advise on staircasing, remortgage, and future planning
If you purchase via Shared Ownership, we advise on staircasing options and remortgage when the time comes.
Government scheme questions answered honestly
Shared Ownership is specifically designed for buyers whose household income is £90,000 or less in London. If your income is below this threshold and you cannot afford to buy outright, Shared Ownership may be one of the most realistic routes to homeownership in the capital.
Staircasing is the process of purchasing additional shares in your Shared Ownership property — typically in increments of 10% or more — until you own 100% outright. Each time you staircase, you need a new mortgage for the larger share. We advise on the timing and financing when you are ready.
Yes — the LISA bonus can be used towards a Shared Ownership purchase, provided the full market value of the property is £450,000 or less. The timing of when the LISA funds are released is specific, and your solicitor must manage this carefully. We brief them on what is required.
Buyers must have a household income of no more than £80,000 (or £90,000 in London) to qualify for First Homes. The property must also be your first home and you must intend to live in it as your main residence.
Get on the ladder with the right scheme
Free consultation. We compare every current scheme for your situation and find the mortgage that works alongside it.
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Find the right scheme for your situation
Free consultation. We compare every current scheme and find the mortgage that works alongside it.
Request a free scheme consultation
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