An overview of UK-wide affordable home ownership schemes is available on the government’s Own Your Home website.
First time buyers looking to buy a home in London can access properties and resources through the Mayor's First Steps programme.
There are three main options available to applicants:
Shared Ownership – or ‘part buy part rent’ as it’s often known - means buying a new or existing property from a housing association. You purchase a minimum of 25% of the property then pay rent on the remaining share.
Rent to Save - you can rent a property while saving for a deposit through our Rent to Save scheme. You can rent for up to five years, but at any point during the tenancy you can purchase on shared ownership or shared equity terms.
Help to Buy - you purchase a minimum of 80% of the property with a mortgage and a deposit. You need to be able to raise a minimum deposit equivalent to 5% of the value of the property.