Buying a home

If you are thinking of buying your own home some of the things you should consider:

• your budget
• size of the property needed
• amenities nearby

If you don't think that you can afford to buy a property on the open market, there are other routes to home ownership that may be more accessible to you.

Government Schemes

There are several government-sponsored schemes in place that may be able to assist you in buying a home.

Each scheme is slightly different and may have different eligibility criteria.
More information can be found on the Government's affordable home ownership schemes page.

Shared Ownership

Shared Ownership allows you to buy a percentage share of a property owned by a Registered Provider, where you will then pay a low amount of rent to the Registered Provider for the remaining share.

The share you buy is typically between 25% and 75%, although you can buy as little as a 10% share on some homes. You are then able to buy the remaining shares of the property gradually. This is a process known as 'staircasing'. Not all shared ownership schemes are the same, there are variations in how they operate and rules on eligibility.

Although you buy a percentage share, you will be responsible for repairing and maintaining the property.

Intermediate and Rent to Buy

Intermediate and Rent to Buy rent is set below current market rent prices. By paying a reduced rent, this should mean you are able to save money and put that money you have saved from the reduced rent towards a deposit to purchase a property.