Help to Buy in London
Across All Schemes

Even though the Help to Buy Equity Loan has ended, there are still schemes available that can help to buy in London.

These include Shared Ownership, First Homes, and Forces Help to Buy, along with low-deposit mortgage options through selected lenders.

Each option works differently depending on factors like your deposit amount, income, and the type of property you’re looking to buy.

Some schemes allow you to purchase a share of the home and pay rent on the rest, while others offer a permanent discount on the purchase price.

If you’re not sure which route fits your situation, a mortgage broker in London can explain what’s currently available and help you explore the most suitable option based on your plans and eligibility.

There are still several ways to get support if you’re finding it difficult to buy a property in London.

While the Help to Buy Equity Loan scheme is no longer running, there are alternatives that could still make buying more achievable.

These include Shared Ownership, First Homes, and low-deposit mortgages backed by certain lenders.

Depending on your circumstances, you may be eligible for a 95% mortgage or a scheme that reduces how much you need to pay upfront.

Some options are designed for first time buyers, while others may also support home movers or returning homeowners.

If you’re unsure what might help to buy in London based on your income and deposit, a mortgage broker in London can talk you through the support still available and help you weigh up the most suitable route.

Yes, if you’re a first time buyer, you can use a Lifetime ISA in London to help with your mortgage deposit.

This government-backed savings scheme adds a 25% bonus to your contributions, which can be used towards a home purchase of up to £450,000, a limit that still applies to many first purchases in London, depending on location and property type.

To avoid penalties, the funds must be withdrawn correctly and used for an eligible home purchase.

A Lifetime ISA can often be used alongside other deposit sources, including gifted deposits or Forces Help to Buy, depending on the lender’s criteria.

When you apply for a mortgage, a mortgage broker in London will take your ISA savings into account and explain how they contribute towards your affordability and application strength.

The schemes that help to buy in London all come with their own eligibility criteria.

These are typically based on your income, deposit amount, whether you’ve owned a property before, and whether you’re buying a new build.

Depending on your situation, you might qualify for Shared Ownership, the First Homes scheme, or a lender-backed mortgage with a low deposit requirement.

Some schemes are designed specifically for first time buyers.

Others are aimed at key workers, members of the armed forces, or returning homeowners.

A mortgage broker in London will look at your full circumstances, including your financial background and property plans, and explain which schemes you’re likely to be eligible for, along with how they would work in practice.

Not always. While some schemes are designed specifically for first time buyers, others could help to buy in London even if you’ve owned a property before.

Your eligibility will depend on factors such as when you last owned a home, whether you’re currently named on any property, and the specific scheme or lender you’re applying through.

For example, the First Homes scheme and Lifetime ISAs are usually reserved for first time buyers.

However, Forces Help to Buy and certain flexible mortgage products may still be available to home movers or returning homeowners.

Yes, some of the schemes that help to buy in London do have income limits.

For example, the First Homes scheme is only available to households with a combined income of £90,000 or less in London, which is higher than the cap in other parts of the UK.

Shared Ownership may also apply income restrictions depending on the specific property, developer, or housing association involved.

Other routes, such as low deposit mortgages or Forces Help to Buy, may not set a fixed income threshold but will still be subject to full affordability assessments.

What’s available to you will depend on your financial background and the requirements of each scheme or lender.

Yes, several schemes that help to buy in London are designed with new build properties in mind.

First Homes and Shared Ownership often apply to new developments, particularly those built by housing associations or developers working in partnership with local authorities.

Some lenders also offer 5% deposit mortgages for new builds, although these may come with specific criteria around valuation, property type, or build stage.

In many cases, new build purchases involve additional requirements.

These could include approval from the developer, specific deadlines for exchange or completion, and restrictions on incentives or discounts.

These requirements can vary depending on the scheme and the development, so it’s worth checking early on.

Having a low credit score doesn’t always stop you from getting help to buy in London.

Some lenders and schemes will still consider your application, depending on the details of your credit history and how recently any issues occurred.

Missed payments or defaults from several years ago may have less impact than more recent problems.

There are cases where options like Shared Ownership or a 5% deposit mortgage may still be available, especially if other parts of your application are strong, such as your income, job stability or current affordability.

Success often depends on matching your situation with a lender or scheme that offers more flexibility.

If you’re aged over 50 and looking to buy a home in London, there are still mortgage options available even if you’re planning to borrow into retirement.

Many lenders now offer residential mortgages that extend well beyond traditional working age, particularly if you can provide a larger deposit or show a reliable pension or investment income.

Some clients also consider retirement interest-only mortgages, which can help keep monthly payments lower.

With this type of product, you usually repay just the interest each month, with the full loan repaid later through the sale of the property.

Depending on your circumstances, Shared Ownership or other part-buy part-rent options may also be available, especially if you’re downsizing or looking for a more affordable route into home ownership.

Yes, a gifted deposit is often accepted with many of the schemes that help to buy in London, provided the money comes from an acceptable source such as a close family member.

Most schemes and lenders will ask for written confirmation that the gift is non-repayable and that the person gifting the money has no legal interest in the property.

A gifted deposit can strengthen your mortgage application, especially if it helps you reach a larger deposit threshold or meet the minimum requirement for schemes like Shared Ownership or low-deposit mortgages.

Each lender and scheme has its own criteria for how gifted funds are treated, so it’s important to confirm the details early in the process.

Yes, Forces Help to Buy can be used when purchasing a property in London.

This interest-free loan scheme is available to eligible members of the armed forces and is designed to help with the upfront costs of buying a home, including the deposit.

Service personnel can borrow up to £25,000, which can be used alongside a standard mortgage.

In some cases, this loan is combined with a 5% deposit, or used in place of one entirely, depending on the lender’s criteria.

The loan is normally repaid through monthly salary deductions over up to ten years. You must declare the repayments to the mortgage lender, which will assess them as a financial commitment when checking affordability.

While many mortgage providers accept Forces Help to Buy in London, not all do, and there may be specific rules depending on the property type or whether you’re using the scheme alongside something like Shared Ownership.

A mortgage broker in London will confirm which lenders support the scheme and help you structure your deposit most suitably.

Yes, if you’re self-employed, you can still access mortgage products and schemes that help to buy in London.

You don’t need to be on a fixed salary to qualify.

As long as your income is stable and well-documented, lenders and schemes will consider your application.

Most lenders will ask for two or more years of accounts or SA302 tax calculations.

In some cases, one year may be accepted, depending on the strength of your application and overall affordability.

Your income will usually be assessed based on an average of your trading history, or the most recent year if that reflects growth.

Some lenders will also take dividends or retained profits into account for limited company directors.

Schemes like Shared Ownership and First Homes can still apply if you meet the income limits and pass the scheme’s affordability checks.

Yes, there are still mortgage options available in London if you only have a 5% deposit.

Some lenders continue to offer 95% loan-to-value mortgages, either as part of their own product ranges or through schemes that reduce the lender’s risk, such as the Mortgage Guarantee Scheme.

Schemes like First Homes and Shared Ownership can also help to buy in London by either reducing the purchase price or allowing you to start by buying a share of the property.

If you’re using a Lifetime ISA or have a gifted deposit, these may strengthen your application and reduce the amount you need to borrow.

Your eligibility for a 5% deposit mortgage will depend on the lender’s criteria, which typically includes your credit history, income stability, and the type of property you want to buy.

Not all low-deposit deals apply to new builds, so it’s important to check the terms carefully before applying.

The First Homes scheme offers selected new build properties to first-time buyers in London at a reduced price.

These homes are sold at a minimum 30% discount, which helps bring down the mortgage amount needed and makes the property more affordable.

To qualify, you must be a first-time buyer with a household income of £90,000 or less in the previous tax year and meet any local eligibility rules set by the council.

These can include residency or employment requirements, and price caps based on property size and location.

The discount stays attached to the property, meaning it’s passed on when you sell, helping the next buyer benefit too.

Lenders will still need to approve your mortgage, so your deposit, income, and credit history must meet standard requirements.

If you’re looking at new builds in London, this could be a route worth exploring.

The deposit you’ll need for Help to Buy alternatives in London depends on the scheme or lender you’re applying through.

Some mortgage products still allow a 5% deposit, particularly for first time buyers with strong credit and stable income.

Others may require 10% or more, especially on new builds or flats, where the criteria can be more restrictive.

If you’re using Shared Ownership, your deposit is usually based on the share you’re purchasing, not the full property value.

This can reduce the upfront cost and make it more achievable if you’ve saved a smaller amount.

The First Homes scheme can also work with a low deposit, although some lenders may ask for more based on your individual credit profile.

You may be able to use a combination of savings, a Lifetime ISA, or a gifted deposit to meet the requirement.

Each scheme has its own rules, so it’s important to match your deposit with the option that fits your circumstances.

Yes, it’s possible to combine a Lifetime ISA with Forces Help to Buy when purchasing a home in London.

Each has its own rules, but many armed forces personnel successfully use both together to boost their deposit.

The Lifetime ISA provides a 25% government bonus on savings, up to a maximum bonus of £1,000 per year.

These funds can be used to purchase a first home in London, provided the property value is £450,000 or less, and the purchase takes place at least 12 months after your first payment into the ISA.

Forces Help to Buy is a separate interest-free loan of up to £25,000, repayable over ten years through your salary.

As long as the lender accepts both sources of deposit and your overall application meets their criteria, using them together can be an effective way to increase your deposit and access better mortgage options.

Yes, owning a home in the past doesn’t always exclude you from accessing support to help buy in London.

Some schemes are designed solely for first time buyers, but others may still be available if you no longer own a property at the time of application.

For example, if you’ve sold your previous home and aren’t currently named on any property deeds, some lenders or schemes may still consider you eligible, depending on how they define first time buyer status.

Schemes like Shared Ownership may also be open to former homeowners, based on your income, deposit size, and local criteria set by the housing provider.

Because definitions and eligibility rules can vary, it’s important to check which options still apply.

Yes, you can apply for home buying support in London with another person, and many schemes and lenders allow joint applications.

This is a common route for first time buyers looking to increase their affordability by combining income and savings.

In most cases, both applicants will need to meet the eligibility criteria for the scheme being used.

For First Homes, all buyers must be first-time buyers. Lifetime ISA eligibility is assessed individually: each person using LISA funds must qualify, but another joint buyer who is not using a LISA does not have to be a first-time buyer.

If one person has previously owned a property, this may affect your eligibility depending on the scheme and lender involved.

In a joint application, your combined income will be assessed to determine how much you can borrow.

Deposit requirements will also apply to the purchase as a whole, not per applicant.

Yes, many of the schemes and mortgage products designed to help buy in London are aimed at people who are currently renting.

These options are often created to support renters who are paying high monthly costs but finding it difficult to save a full deposit.

Schemes like Shared Ownership or First Homes can reduce the upfront cost of buying by either lowering the purchase price or allowing you to buy a smaller share of the property to begin with.

Some mortgage lenders also offer 95% deals, which can make the move from renting to ownership more achievable, especially when combined with a Lifetime ISA or a gifted deposit.

Yes, many of the schemes that help to buy in London can be used to purchase a flat or apartment, as long as the property meets the eligibility criteria set by the lender or scheme provider.

Some support options have rules around property type, such as whether the flat is a new build, how many storeys the building has, or whether it’s part of a larger block. These factors can sometimes affect lender decisions.

Most flats in London are leasehold, which means the mortgage lender will also consider the lease length, service charges, and ground rent arrangements when assessing your application.

If you’re thinking of buying a flat in London using one of these schemes, it’s important to check whether the property and its ownership structure are compatible.