Learn how we’re helping

Young couple sat down together, surrounded by cardboard packing boxes, looking happy.

The government wants to help more people own their homes and is providing a number of routes to make this easier and more affordable 

First Homes  

First-time buyers stand to save an average of £70,000 through the First Homes scheme, which offers properties to local people at a discount of at least 30%, with some areas giving key workers priority.  

Deposits and mortgages therefore become much more affordable under this scheme which retains the discount forever, meaning that other first-time buyers will benefit every time the property is sold.   

The mortgage guarantee scheme

In the 2021 Budget the chancellor announced a new mortgage guarantee scheme to restore the availability of 95% loan to value mortgages. This will help slash the cost of a deposit reducing the time people need to save before they can get on the housing ladder.  

Stamp duty  

Since 2017, first time buyers purchasing properties worth under £500,000 have paid a reduced stamp duty – with over 90% of first-time buyers paying no tax at all. Building on this, as a temporary measure, due to the impact of coronavirus, further stamp duty reliefs have been put in place for all home-movers. These could save you up to £15,000. Further details are available on our Stamp Duty Land Tax Relief page.

Shared Ownership 

Our new £11.5 billion Affordable Homes Programme aims to deliver around 180,000 homes with around half of these available to purchase through shared ownership. 

We are making shared ownership more accessible by reducing the initial share you can buy in your new home from 25% to 10% and allowing you to increase your share in 1% instalments 

This means that you can increase your share of the property in bitesize, manageable payments when you want, at a pace that is right for you.   

Building more homes 

Overall, the government is investing billions and reforming the planning system to deliver greener, more beautiful, quality homes where they are needed faster 

We will open up even more opportunities for young people, families and many others to buy a place they can be proud to call home.  

You can read more about our planning changes on the government’s website.