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If you are planning to buy your first home, you might be able to apply for a Help to Buy mortgage. Speak with an expert Help to Buy mortgage adviser today who knows and understands which product is best for first time buyers.

Dreaming of owning your own home? Worried about affordability or unsure if you qualify for a mortgage?

Don’t feel trapped by rent or property prices. The UK government has introduced Help to Buy schemes to make your dream a reality.

Our experienced team at Elite Financial Consulting Ltd simplifies the process for you. If you have a 5% deposit and are working, these schemes can be an ideal option for you.

Here’s how it works step-by-step with Elite:

  1. Initial Chat: Contact us by phone, email, or visit our office.

2. Consultation: We discuss your financial situation, goals, and options, free of charge.

3. Research: We find suitable options and present them to you.

4. Agreement in Principle: We secure a lending decision from the chosen lender.

5. Full Application: We dive deeper into the application and recommend related products.

6. Offer: You receive a mortgage offer, and we guide you through to completion.

Explore Help to Buy schemes like Equity Loan, Shared Ownership, and more. We can help you navigate the complexities and determine the best fit for you.

If you’ve heard about these schemes or are discovering them for the first time, contact us for a free consultation. Let’s make your homeownership dream come true.

Call now and take the first step towards owning your home today.

Schemes Available

Equity Loan

The Help to Buy Equity Loan scheme is available to both first time buyers and those that have bought a property before. If you have the minimum 5% deposit and want to buy a new build home, you’ll be able to access the Help to Buy Equity Loan scheme. You will need to be able to take out a mortgage for 75% of the value of the property and the remaining 20% will be funded by the government.  Please note some of the rules and max price cap now applies depending on the region in the country. 

Shared Ownership

With shared ownership, homes are mainly brand new flats or houses for sale on a part buy/part rent basis through different housing associations. It is possible to purchase shares of between 25% to 75% of the home’s value and you pay a low rent on the remaining share. Please note that if you buy a flat you will also have to pay service charges to cover the cost of maintenance of communal areas. All applicants are expected to purchase the maximum share that is assessed as affordable. Eligible applicants will need to be earning less than £60,000 per annum.

Shared Ownership - Resales

Resales are homes offered for sale by existing shared owners where you can purchase the existing share (or more) and own the home on a shared ownership basis. A low rent is payable on the remaining share. Resale properties vary in age, size, property type and location and are available through different housing associations.

Shared Ownership - Over 55's

Some Shared Ownership schemes (new and resale) are for people over the age of 55 only. The scheme works in the same way as Shared Ownership does, so you will still need to demonstrate that you can afford to purchase a share in the home, as well as being able to pay the rent and service charges on the remaining share. Some of these properties are within sheltered schemes and a service charge will be payable for the maintenance of the common areas, the garden and the services of the scheme manager.

Starter Homes

The Government has announced a new Starter Homes Initiative in England that aims to help young first-time buyers (below 40 years) purchase a home with a minimum 20% discount off the market price.

Developer Schemes

Some developers are providing alternative affordable housing schemes. These are not developed using Government funding, so they do not carry the Help to Buy branding but still offer an affordable option to becoming a home owner.

Discount Market Sale

Discount Market Sale properties are sold with a discount of between 20-50%.

Local Authorities have confirmed that there will be a restriction on these properties to ensure that there is affordable housing available for people who are struggling to get on the housing ladder and therefore a discount is available to help.

Generally, the restriction on the property requires the purchasers to have a local connection to the area the property is in.

If you are interested in purchasing a Discount Market Sale property, please seek advice from the Local Authority in regard to any restrictions on the property.

New Buy

There are some developers participating in the NewBuy Scheme, which is a government backed ‘mortgage indemnity’ scheme that aims to help people with smaller deposits buy a new build home. It was launched in March 2012 and is available in England on properties offered by developers participating in the scheme up to and including a sale price of £500,000.

For further information also see: