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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 whether you’re a first time buyer or moving home, there could be a scheme that’s right for you.

  • 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

    1. Use the regional links below to contact an agent in the area you would like to live. 
    2. Speak to one of our mortgage advisers to start your application. 
    3. Find a property and make an offer.
    4. Complete your mortgage application.

     

  • 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?

    1. Use the regional links below to contact your local authority and confirm the level of discount that may apply.
    2. Speak to a mortgage adviser to start your application.
    3. Find a property and make an offer.
    4. Complete your mortgage application.
       
  • Lloyds is supporting the Governments 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?

    1. Seek advice through your Chain of Command and personnel agency.
    2. Speak to a mortgage adviser to start your application.
    3. Find a property and make an offer.
    4. Complete your mortgage application.

    Further information is also available on the Government website.

  • 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, or moving home, 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.
 

How to get an Equity Loan

  1. Use the regional links below to contact your local Help to Buy agent and registered home builder.
  2. Apply for an equity loan with the agent.
  3. Speak to a mortgage adviser to start your application.
  4. Find a property and make an offer.

     

You could lose your home if you don’t keep up your mortgage repayments

Green Homes Grant scheme (England)

In July 2020 the Government announced a new Green Homes Grant scheme.

Vouchers worth up to £10,000 will be given to homeowners in England to make their homes more energy efficient. This scheme launched in September 2020 and be available until March 2021.

For most home owners the vouchers can cover two-thirds of the cost of energy efficiency improvements up to a maximum of £5,000 per household.  For those on low incomes the government will cover the full cost of energy efficiency improvements up to a maximum of £10,000 per household.

To be able to receive the vouchers you will need to complete one of the following improvements:

  • Insulation: Solid wall, cavity wall, under-floor, loft, flat roof, room in roof, park home
  • Top ups are allowed e.g. additional loft insulation up to the recommended level but replacement not included.
  • Low carbon heat: Air source heat pump, ground source heat pump, hybrid heat pump, solar thermal systems, biomass pellets boiler

If you are completing one or more of the above improvements, you can also use your vouchers for:

  • Draught proofing
  • Double or triple glazing / secondary glazing when replacing single glazing
  • Energy efficient doors
  • Hot water tank or appliance tank / thermostats or heating controls

It’s important to note that for these improvements you can only claim up to the same value as used for insulation or low carbon heat measures.

You will need to apply for the voucher online and use a local accredited Trust Mark supplier to carry out the works.

More about the Green Homes Grant Scheme