Affordable Housing Schemes
Affordable housing is a key element of the government’s plan to end the housing crisis, tackle homelessness and provide aspiring homeowners with a step onto the housing ladder. There are many schemes available and our advisors have the experience to guide you through the options.
What are the Affordable Housing Schemes for purchasing a home?
Discounted Market Sale
Under this scheme, properties are sold at a discounted price, typically 20% below market value, to individuals who meet specific criteria, such as being a key worker or living in a specific area.
Right to Buy
This scheme allows you to purchase your rented home at a discounted price. It offers eligible tenants the chance to become homeowners and secure the property they have been living in.
Forces Help to Buy
This scheme specifically caters to armed forces personnel, providing an equity loan of up to 50% of their salary (maximum £25,000) to assist with buying their first home or moving to a new one.
Rent to Buy
Rent to Buy schemes allow you to rent a property at a reduced rate for a fixed period, usually between 2-5 years. During this time, you can save for a deposit. As soon as you have saved enough you can consider a mortgage and transition into homeownership.
Own New
The Own New scheme is a partnership between new build developers, mortgage lenders and mortgage brokers, aimed at making home ownership more attainable. It helps you own 100% of your property with innovative mortgage solutions, for example, cashback and lower monthly payments.