All Available Help-to-Buy Mortgage Schemes in Leeds

The Different Types of Help-to-Buy Mortgage Schemes for Buying a Home in Leeds

Help to Buy, Shared Ownership & other schemes  

In 2013, to help boost the market after the credit Crunch left many home buyers and sellers in a difficult situation, the Government introduced Help to Buy. Help to Buy is a series of schemes to help First Time Buyers in Leeds struggling to save enough for a deposit to put their foot onto the property ladder. 

Help to Buy Shared Ownership

Shared ownership allows applicants to buy a share of a property. How the scheme works is you own a percentage of a property that typically has to be between 25%-75%, and then you pay the rent on the remaining percentage. 

The remaining percentage of the property is likely to be owned by the housing association. However, you can eventually repurchase this percentage further down the line if you wanted to. If you like the property and have long-term plans to stay there, you could buy the remaining share. People usually do this once they have the money and have settled into the property. 

With the Help to Buy Shared Ownership scheme, you will still likely have to pay 100% of the ground rent and the property’s service charges, irrespective of what percentage you own. 


Help to Buy Armed Forces

This scheme was introduced off the back of the Help to Buy Equity Loan scheme in 2014. It aimed to help Armed Forces members get onto the property ladder as a thank you for serving their country. 

If you are struggling to get yourself on the property ladder and are a member of the Armed Forces, this scheme could be perfect for you. The Government has decided to make it an enduring policy.


Lifetime ISA

The Lifetime ISA is a great way to get yourself on the property ladder. You can use this scheme to help purchase your first home. If you are a First Time Buyer in Leeds, this scheme might appeal to you. 

The Lifetime ISA is a savings account where your money grows tax-free. As well as your tax-free savings, the Government will also top up whatever you have saved by an extra 25%. The maximum amount that you can save each year is £4,000, so if you manage to save this much, overall, with the government’s 25% top-up, you will have £5,000 each year. If you save a little less, the Government will still top up your savings by 25%. 


Here are the criteria for the Lifetime ISA: 

  • The property has to cost £450,000 or less 
  • You have to buy the property at least 12 months after you access the Lifetime ISA 
  • You must use a conveyancer or solicitor to act for you in the purchase – the ISA provider will pay the funds directly to them 
  • The savings must be used towards the purchase of your first property. 

We hope this information was useful, if you have a question or want Help to Buy Mortgage Advice in Leeds, don’t hesitate to get in touch with our friendly advisors who are here from early until late, 7 days a week! We also offer a free mortgage consultation to every customer no matter their mortgage situation. 

mortgage guides

What Does Remortgage in Leeds Mean?

Taking a look at what remortgage in Leeds means, what defines a remortgage in Leeds & the reasons that people may remortgage in Leeds.

Do You Need a Deposit to Remortgage in Leeds?

A look at whether or not you need a deposit if you are looking to take out a remortgage in Leeds on your property and what to consider. & Leedsmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

© 2023 Leedsmoneyman

Leedsmoneyman, Wizu Workspace, 32 Park Cross Street, Leeds, LS1 2QH.

Moneyman Logo

Moneyman Logo

Moneyman Logo

Ask Your Question

    Moneyman Logo

    Moneyman Logo

    Moneyman Logo

    Book your Free Consultation

    7 Days 8am - 10pm

    Moneyman Logo

    Moneyman Logo