The answer depends on your situation financially, as well as where you live in the UK as there are different schemes available for London, Wales and Scotland. Our advisors will give you the best and most accurate advice possible, but in the meantime you may like to consider the following factors.

If you have sufficient income to repay a mortgage, but are struggling to get a deposit together, Help to Buy: Equity Loan are available as options for those with a 5% deposit.

This scheme means you won’t have to save for a 10% or even a 15% deposit, and instead can buy a house with just a 5% deposit. (More on both schemes below).

If you are, then the Help to Buy scheme above are an option for you.

If so, shared ownership allows you to buy a share of your home (between 25% and 75% of its value) and pay rent on the remaining share, which is owned by a housing association.

This scheme is also designed to help those with 5% deposits get on the housing ladder, but it’s only available on new-build properties. This entails the Government lending you 20% of the property price, and after five years you’ll have to start paying interest on the loan – however, the interest is at a low rate, and so this is still a really good deal for those struggling to get on the property ladder.

First-time buyers and home movers with a deposit of at least 5%. The current scheme will run until April 2021 when it will be replaced by a somewhat reduced version – so get your applications in early. The new version will last until March 2023 – it will only be open to first-time buyers and include lower, regional property price caps.

The Government lends you up to 20% of the property value (interest-free for the first five years). This may substantially reduces the monthly costs in the first five years and should give you access to cheaper mortgage products, as you only need to borrow 75% of the value from the lender. You’ll find too that most major lenders will offer a Help To Buy mortgage: our team will help you decide which offer is best for you.

The Government controls up to 20% of the property value. You will need to pay this back at the end of the mortgage or when you sell, and after year five, you start paying interest on it. The amount you need to repay will depend on the property value at that time. From year six you start to pay interest, but only on the original loan amount. So say you borrow £20,000 but owe £25,000 at the end because the property price goes up, interest is only charged on the original £20,000.

Although the property is in your name, be aware that you will need to seek approval from the Help To Buy agent in certain circumstances, e.g. extending or altering the property, or the price you sell for in the future, for example.

It must be repaid when the house is sold or at the end of your mortgage term – whichever comes first. The Government will take 20% of the sale price, whether higher or lower in monetary terms than the amount lent. You can also pay back some, or all, of your equity loan without selling your home if you manage to save the amount needed to clear the debt.

Most lenders are offering Help to Buy mortgages, including big names Nationwide, NatWest, Santander and Barclays. Our trained advisors will look closely at your circumstances and advise you of the most suitable lenders for your needs.

Help to Buy ISAs are a decent option if you’re a first-time buyer saving for a mortgage deposit. You can earn interest tax-free and then the Government will add 25% free cash, and it could be £1,000s, on top of what you save.  Be aware though – this option is only available if you have NEVER owned a home previously.

Anyone can get one, as long as you’re a first-time buyer or plan to be in the future and frankly even if you’ve only a thought that you may buy a house in the future, it’s worth starting it off this year so you don’t miss out.

You can open one anytime until December 2019 and you’ll still get the bonus added as long as you use it for a deposit until 2030.

As for what a first-time buyer is – the definition is strict. It’s someone who doesn’t own and has NEVER owned a home or part of a home, either inside or outside the UK, whether it was bought or inherited.

Unlike a normal cash ISA – where you can open a new one each tax year – you’re only allowed one Help to Buy ISA (i.e. from one provider). But you can continue to add to it each tax year.

And although you’re only allowed to get one Help to Buy account, you can transfer it between different providers to chase the best interest rates – make sure you ask your chosen new provider to transfer the ISA though, don’t transfer it yourself as the rules strictly prohibit this.

This scheme is for non-homeowners (so you could have owned a property previously, but don’t currently own one) who earn £80,000 a year or less (£90,000 or less in London). Where in the UK you live will determine how the scheme works for you.

Non-homeowners, including first-time buyers and those who previously owned a home, who earn £80,000 a year or less (thresholds are up to £90,000 in London). You’ll need to have enough savings to cover a 10% deposit of the share you’re buying, and to cover moving costs, stamp duty, solicitors’ fees, etc. You’ll also need to find a mortgage lender that is willing to lend on shared ownership properties: however, there are a lot of lenders now who will loan for this type of mortgage, so you should talk to our advisors.

You pay subsidised rent (and usually a service charge) on the share you don’t own, which will be less than the market value. If subsidised rent on the property is £100/week, but you own a 25% share, you’d pay £75/week.

Share To Buy – For non-homeowners, on new-build or resale housing association homes – under HomeBuy, you choose to buy a share of a home between 25% and 75% and then pay subsidised rent on the rest. You can buy additional shares at a later date until you fully own the property, if you choose to. Most homes for sale as shared ownership are advertised as such, and will show up on major property sites when you’re looking for properties.

By talking to our trained, experienced advisors; all of whom will be able to guide you to the best solution to get you onto the property ladder.