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We feel passionate about giving you an arsenal of knowledge for free to take away those fears and doubts that can make you feel seriously discombobulated!

Welcome to your guide to mortgage solutions.

According to Rightmove cost of a home coming onto the market currently stands at £362,452!

Last year the average price was £348,804 which just seems remarkable that that this year that is up by £13,648 on last year.

The good old BoE (Bank of England) hiked the base rate from 3.5% to 4% earlier this month.

This is the 10th time in a row that the BoE raised interest rates – and they are predicted by some to raise further.

This might all sound a bit negative if you are somebody desperate to get on the property ladder of somebody who is coming to the end of a fixed rate term.

So let’s spot light what is actually out there to give a helping hand firstly for the First time buyer:

  1. The First Homes Scheme

The First Homes scheme was first launched in 2021 it enables prospective first-time buyers in England to get homes at 30% and 50% discounted rates compared to market price.

The First Homes scheme aimed at helping first-time buyers get on the ladder through the provision of a discount.

There are eligibility requirements aside from being a first-time buyer, including a maximum household income of £80,000 (£90,000 in London) and at least half the purchase needs to be funded by a mortgage.

Each local council will have their own requirements, If you don’t know who your local council is, you can find it using this handy tool:  https://www.gov.uk/find-local-council

For more information feel free to reach out.  Our consultations are free:  hello@mtge.uk

The important point to note with this scheme is if you sell the property down the line, the discount on the new value will be made available to any future buyer too. This scheme is not designed to make you money.

As well as being first-time buyers, you need to be aged 18 or above to qualify.

  1. Right to Buy

The Right to Buy scheme  is a government initiative that lets  council house tenants buy the property they rent.  These homes are offered at a discounted price to help renters get on the ladder.

If you have been a public sector tenant for between 3-5 years you get a 35% discount on your council home.

The maximum this can increase to is 70%, or 80% or £87,200 across England and £116,200 in London boroughs. As long as you have been a public sector tenant.

Households wanting to sell within five years, some or all of the discounts need to be paid back.

For more information feel free to reach out.  Our consultations are free:  hello@mtge.uk

  1. Right to Acquire

This is a similar scheme to Right to Buy for people who have rented from a housing association or a public sector landlord.

To qualify you need to of lived in the home for a minimum of three years.

This offer could offer a discount of between £9,000 – £16,000 on the property purchase price, varying depending on location of the property.

However, if you decide to sell the property within a 10 year period, the property must be first offered to the original landlord and a price agreed.

If the landlord does not wish to buy the property, a price will need to be agreed, it can then be sold to the open market.

If the property is sold within 5 years, then a percentage or all of the discount will need to be paid back on a sliding scale.

For more information feel free to reach out.  Our consultations are free:  hello@mtge.uk

  1. Shared Ownership

Shared ownership can be an affordable way of getting on the property ladder.

The scheme is a part-buy, part-rent scheme.

You co-own the property with a housing association, often a new build, and will be charged a rental on a portion of the property.

If you use the initiative, you need to buy between 10% and 75% of the property. You can then buy more shares until you own 100%.

A deposit of 5% is required to secure the home and fund your share using a shared ownership mortgage.

This scheme allows the buyer more security of tenure, allowing for you to work towards full ownership as circumstances change.

For more information feel free to reach out.  Our consultations are free:  hello@mtge.uk


First Homes scheme: discounts for first-time buyers

This is a scheme that replaced the government Help to Buy equity loan scheme that has now ended

As a first-time buyer, you may be able buy a home for 30% to 50% less than its market value. This offer is called the First Homes scheme.

The home can be:

a new built property by a developer.

Or a home you buy from someone else who originally bought it as part of the First Home scheme.

The First Homes available in England only.


You must be:

  • 18 years +
  • a first-time buyer
  • able to get a mortgage for at least half the price of the property.
  • buying the home as part of a household whose total income is no more than £80,000 (or £90,000 if you live in London)
  • Each local council may also set some eligibility conditions.

For example, some councils may prioritise giving First Homes discounts to:

  • essential workers
  • people who are local to the area
  • people on lower incomes
  • Exemptions for armed forces and their families

You’re exempt from council conditions about being an essential worker or living in the area if you’re:

  • a member of the armed forces
  • the divorced or separated spouse or civil partner of a member of the armed forces.
  • a widow / widower of a deceased member of the armed forces (if their death was caused wholly or partly by their service)
  • a veteran who left the armed forces in the last 5 years


How it works

  1. Look for new homes in your area that are advertised as part of the First Homes scheme by the developer.
  2. Developers offer these homes to first-time buyers with 30% to 50% of the market value taken off the price.
  3. Each home that’s sold is valued by an independent surveyor to ensure the discount is based on actual market value.
  4. The homes cannot cost more than £420,000 in London, or £250,000 anywhere else in England, once the discount has been applied.
  5. You can only sell the home to someone who is eligible to buy a First Home. You have to give them the same percentage discount that you got, based on the home’s market value at the time of sale.


How to apply

Contact us today and we can give you advice on how to get started right away!





Deposit unlock Mortgages

The Deposit Unlock scheme helps first time buyers and home movers buy a new build property with only a 5% deposit.



You can only buy a home from a house builder participating in the Deposit Unlock scheme, which can be found in the list below:

Which home builders are signed up to Deposit Unlock?

To be eligible, you’ll need to find a new build home offered under the Deposit Unlock scheme with one of the following participating home builders:



Ashberry Homes

Barratt Homes

Barratt London


Bellway London

Bewley Homes

Bloor Homes

Bovis Homes

City & Country

Countryside Properties

Crest Nicholson

Croudace Group

Davidsons Homes

David Wilson Homes

Devine Homes

Edenstone Homes

Fairview Homes


Hayfield Homes


Ilke Homes

Keepmoat Homes

Linden Homes

Mandale Homes

Miller Homes

Morris Homes

Nicholas King Homes

Norfolk Homes

Pat Munro Homes


Prospect Homes


St Modwen Homes


Taylor Wimpey





  • Be sure to watch out for any changes in the market, as this may change as time progresses.


  • Participating mortgage lenders at the time of this article are Newcastle Building Society, Nationwide and Accord mortgages.

For the most up to date details feel free to give us a call or drop us a line for free expert advice.

The scheme was developed by the Home Builders Federation, and although it is still fairly new it is one solution out there for people trying to get on the property ladder with a small deposit. It’s also another scheme that has popped onto the mortgage scene since the loss of what was the very popular Help to Buy equity loan scheme.

How it works the Deposit Unlock Mortgage works

Normally mortgage lenders are stricter on the amount they loan on new build properties, simply because they protect themselves against devaluation of the property, and other risk factors.  This normally sets the minimum deposit for new build properties at 15%-25%.

The house builders cleverly pay to insure the building the mortgages instead, they use some of the money from selling the home for this very purpose, to support lenders in offering a higher loan to value mortgage on a new build property.

The maximum loan amount through the Deposit Unlock Scheme is currently £750,000, this is dependent on the lender and your personal circumstances.


Generation H

What is Generation Home?

Generation Home is designed to help first-time buyers get on the property ladder, by allowing friends and family members to either go on the mortgage with the buyer or contribute to the deposit.


How Generation H works?

There are 2 main options:

  • the Income Booster
  • the Deposit Booster.


An Income Booster can be an approved friend or family member who agrees to go on the mortgage with you to help you borrow more.


  • They do not need to live in the property but can help you qualify for a larger loan by adding their income to the mortgage.
  • Up to 6 people can go on the mortgage, who will need a good credit rating to apply.

The Income booster is a joint responsibility loan, so how you workout and divide the responsibility of payments is up to you.

  • Boosters can make regular contributions and build up a stake in the property, or they can be on standby to help if need be.
  • Once you can afford the loan yourself, the income booster can be removed from your mortgage.
  • Income boosters are not on the property deeds and are not classed as guarantors. Meaning, they will not need to use their own property or savings as security.

Deposit Booster

A Deposit Booster can be:

  • a friend or family member who helps home buyers with their deposit.
  • Instead of gifting the money, the Deposit Booster contributes to the deposit via a loan.
  • The loan can either be a deposit loan where the original amount borrowed is to be repaid, or it can be an equity loan.
  • With an equity loan, the balance will increase or decrease depending on fluctuations in house prices
  • Deposit Boosters are not on the property deeds.


Who is Generation Home for?

First time buyers and home movers and second home buyer, they do not currently offer remortagages.

To qualify you will need:

  • to have a good credit rating and be buying a home in England or Wales.


  • Generation Home cannot be used in conjunction with shared ownership schemes, Right-to-Buy or auctioned property, or for buy-to-let purposes.

For more details just reach out, our expert advice is free!

Shared Equity Vs Shared Ownership

Firstly the low down…

Shared ownership and shared equity are both government schemes created to support first time.

But, what are the differences?

Shared ownership involves buying a percentage of a property and paying rent on the rest.

Shared equity involves paying a low property deposit, using an equity loan for a percentage of the property’s value, and getting a mortgage for the remaining amount.


Shared Equity enable a buyer to pay a small deposit (at least 5% of the purchase price), take out an equity loan for a proportion of the property’s value (usually 20%), and then take out a mortgage for the rest of the purchase price.

The equity loan amount needs paying when:


  • You are at the end of the mortgage term
  • When you move house
  • When you remortgage
  • When you have the monies to do so


An equity loan is for a percentage of the property’s value. If the property rises in value, you may have to repay more than you originally borrowed, but the property falls in price, you could end up repaying less.


For example:

  • if you buy a £200,000 property using an equity loan of 20%, it will equate to £40,000. If the property rises in value to £300,000, you’ll owe £60,000 (20% of £300,000). If the property value falls to £150,000, you’ll owe £30,000 (20% of £150,000).


Once this mortgage term ends, you will be required to repay the equity loan in full, if it’s not paid-off already.

The typical time period for the mortgage term is 25 years. The amount you pay back will be relevant to the value of the property at the time.

This means might end up paying back more than you borrowed, depending on the housing market at that time.

What is Shared Ownership?

Shared ownership is backed by the government.  This scheme allows first-time buyers on a lower income to buy a share of their property whilst still paying rent on the rest.

For example:

If you have a 75% share of the property you pay rent on 25%.  You have the option to buy additional shares until you own 80-100%.

Typically, you can enter this scheme through a housing association or a similar organisation.  You will need a shared ownership mortgage, which involves still putting down a 5-10% deposit on the share of your mortgage.

Because you own a percentage of the property to begin, you pay the rest in rent, with the opportunity to buy the rest when you can afford to do so at a later date.

For example you could buy 40% of the market value of the property, then pay the remaining 60% in rent.

The rent agreed is often more affordable than privately renting, then when you can the aim is to increase the percentage you own in the property over time when you can financially do so.

The good thing is because you are getting a shared percentage of the property value the deposit required will be a smaller deposit of 5-10% of the share of the property you are mortgaging and not the whole market value of the property.

For more information all you need to do is ask.  We are here for you:


Tel: 0203 640 7600






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