Support for First-Time Buyers
While Help to Buy ISAs are now closed to new applicants, you can still use funds saved in existing accounts. The Lifetime ISA (LISA) remains a fantastic tool for building your deposit, offering a 25% government bonus (up to £1,000 a year). Both buyers in a joint purchase can use their LISAs toward the same property.
Many first-time buyers receive help from family. Here are some options:
• Guarantor Mortgage – A parent or guardian guarantees the repayments if you cannot.
• Joint Mortgage – Both parties are on the mortgage and the property title.
• Joint Borrower Sole Proprietor – Both parties are on the mortgage, but only the buyer is on the title, helping avoid additional stamp duty.
For more help if you are a First-Time-Buyer why not read our guide below.