Help to Buy in Liverpool
Across All Schemes

We will review your circumstances and provide you with personalised Mortgage Advice in Liverpool. During your free mortgage appointment, we will help to determine whether or not you qualify for the government Help to Buy Scheme.

The maximum purchase price for using this scheme is completely dependent on where you are looking to live. To learn more about a Help to Buy in Liverpool and the full property price limits per area, take a look at the government’s OwnYourHome website.

It is also important to remember that you cannot purchase a second home with the help of this scheme, the property you purchase must be your only residence. You are also restricted from making any part-exchange or sub-letting deals on your home.

On top of this, you cannot be married or cohabiting with anyone who owns or has previously owned their own home somewhere else in the world. If you are applying for a Help to Buy in Liverpool and are married/cohabiting, you will have to make a joint Help to Buy application and neither of you can have another residence.

A Help to Buy scheme is a government initiative designed to assist individuals, particularly first time buyers, in purchasing a property by providing financial support, incentives, or favorable terms for obtaining a mortgage. These schemes aim to make homeownership more accessible, especially for those who might struggle to save for a substantial deposit or meet the financial requirements of traditional mortgages.

As of my last knowledge update in September 2021, several Help to Buy schemes were available in Liverpool, catering to different types of homebuyers and their needs. However, keep in mind that the availability and details of these schemes might have changed since then. It's advisable to check with official government sources or a local mortgage advisor for the most up-to-date information. Here are some of the schemes that were relevant to Liverpool:

Help to Buy Equity Loan: This scheme allows first-time buyers and existing homeowners to purchase a new-build property with just a 5% deposit. The government provides an equity loan of up to 20% (40% in London) of the property's value (or 25% in regional areas), which is interest-free for the first five years. This loan makes it easier to access better mortgage rates.

Shared Ownership: Shared Ownership enables buyers to purchase a share (usually between 25% and 75%) of a property and pay rent on the remaining share. This scheme is available for both first time buyers and those looking to move. Over time, buyers can increase their ownership share through a process called "staircasing."

Right to Buy and Right to Acquire: These schemes are aimed at tenants of local authority or housing association properties. Right to Buy allows tenants to purchase their home at a discount, while Right to Acquire is a similar scheme for housing association tenants. Eligibility criteria apply.

Lifetime ISA: While not exclusive to Liverpool, the Lifetime ISA (LISA) allows individuals to save for their first home or retirement. The government provides a 25% bonus on contributions, up to a certain limit, which can then be used for a qualifying property purchase.

First Homes Scheme: This scheme offers newly built homes at a discount of at least 30% to local first-time buyers. The discount remains tied to the property and applies to its subsequent sales. It aims to help local communities and key workers access affordable homeownership.

Forces Help to Buy: Available to armed forces personnel, this scheme provides an interest-free loan to help eligible servicemen and women purchase their first home or move to another property.

Since scheme availability and criteria can change, I recommend visiting the official UK government website for the most current and accurate information on Help to Buy schemes in Liverpool or consulting with a local mortgage advisor who is well-versed in the current offerings.