Government housing schemes
Lloyds supports a range of government-sponsored affordable housing initiatives including Right to Buy, Shared Ownership and the Help to Buy: equity loan. So if you’re a first time buyer, there could be a scheme that’s right for you.
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If you can’t get a mortgage to buy a property outright, a shared ownership scheme could enable you to buy a 25-75% share in partnership with a social landlord like a housing association. You would then pay ‘rent’ on the share that you do not own to the landlord.
For example, if you bought a 50% share of a property at £100,000 then you would rent on the remaining £50,000
When you part-buy, part-rent a home through shared ownership, you can apply for a smaller mortgage – so your deposit could be lower too.
For more details, speak to a mortgage adviser.
How to use the Shared Ownership scheme
- Use the regional links below to contact an agent in the area you would like to live.
- Speak to one of our mortgage advisers to start your application.
- Find a property and make an offer.
- Complete your mortgage application.
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Lloyds is supporting the Government's Right to Buy scheme, which assists people who are renting their home from a Local Authority (or the Local Authority's nominated housing provider e.g. Housing Association) to buy the property at a discounted price. Depending on the level of discount offered, buyers may not need a personal deposit.
Your local authority will be able to advise if you qualify, confirm the level of discount that may apply and give you details of other scheme rules.
For more details, speak to a mortgage adviser.
How does Right to Buy work?
- Use the regional links below to contact your local authority and confirm the level of discount that may apply.
- Speak to a mortgage adviser to start your application.
- Find a property and make an offer.
- Complete your mortgage application.
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Lloyds is supporting the Government's MoD Forces Help to Buy scheme, which allows forces personnel to borrow up to £25,000 interest free (repaid over 10 years) to use as a deposit when buying a property to be used as their main home.
You can apply for a mortgage through Lloyds branches or over the telephone; remember to tell the mortgage adviser the deposit is being provided through the Forces Help to Buy scheme.
For more details, speak to a mortgage adviser.
How does Forces Help to Buy work?
- Seek advice through your Chain of Command and personnel agency.
- Speak to a mortgage adviser to start your application.
- Find a property and make an offer.
- Complete your mortgage application.
Further information is also available on the Government website.
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The Help to Buy: ISA is closed for new applications.
If you already have a Help to Buy: ISA you can still save and claim the Government 25% bonus (minimum £400 and maximum £3,000).
You can also still transfer your Help to Buy: ISA to us from another bank or building society.
For more details please contact us or view our Help to Buy: ISA information.
Lloyds is proud to support the Government's Help to Buy scheme. If you’re a first time buyer struggling to get on the property ladder, the Government can provide you with a loan (called an equity loan) which you then add to your deposit for the house you want to buy. We’re happy to support you with a mortgage.
For more details, speak to a mortgage adviser once you have agreed the equity loan with the Government's schemes advisers.
How to get an Equity Loan
- Use the regional links below to contact your local Help to Buy agent and registered home builder.
- Apply for an equity loan with the agent.
- Speak to a mortgage adviser to start your application.
- Find a property and make an offer.