Home Ownership Schemes
Every way to buy a home in the UK, explained
Written and reviewed by Sophie Harrison · Page last reviewed 23 June 2026
Shared ownership, shared equity, Help to Buy, First Homes, Right to Buy — they sound interchangeable. They're not, and mixing them up can cost you a deposit or a sale. The confusion is understandable: government, lenders and housing providers describe funding routes, discounts and tenures in similar language. But underneath, there are really only five ways to become a homeowner.
What are the main ways to buy a home in the UK?
There are only a few real ownership models. In one line each:
Which route fits your situation?
Pick the statement that sounds most like you — we'll point you to the routes worth looking at first. This is a starting point, not advice.
The five home-ownership routes explained
The cleanest way to think about it: do you own 100% from day one, and if not, who owns or funds the rest? That gives five families. Expand each for the schemes inside it.
Which schemes are live where you are?
Many schemes are devolved, so what's available depends on the nation — this is the single biggest source of confusion. Always confirm against the current government guidance for your country.
England
Live routes: Standard & 95% mortgage, Mortgage Guarantee, Shared Ownership, First Homes, Rent to Buy, London Living Rent, Right to Buy / Acquire, Right to Shared Ownership.
Caveat: Help to Buy Equity Loan is closed to new applications.
Wales
Live routes: Help to Buy Wales (shared equity), Shared Ownership Wales, Homebuy Wales.
Caveat: Rent to Own Wales is closed.
Scotland
Live routes: LIFT shared equity — New Supply Shared Equity and other shared-equity routes.
Caveat: Open Market Shared Equity is currently closed pending 2026/27.
Northern Ireland
Live routes: Co-Ownership, Equity Sharing, House Sales Scheme.
Caveat: Rules differ from the rest of the UK — check NI-specific criteria.
What should you watch out for?
- Low deposit doesn't mean low monthly cost — especially with shared ownership, co-ownership and 95% mortgages.
- Rent and service charges can rise — shared ownership, London Living Rent and co-ownership all have ongoing costs beyond the mortgage.
- Resale may be restricted — First Homes, shared ownership and Right to Buy clawback periods can limit who you sell to and what you keep.
- Not all lenders support every scheme — shared ownership, First Homes, Help to Buy Wales and LIFT use specialist products.
- Schemes are often devolved or local — rules differ across England, Wales, Scotland and Northern Ireland, and First Homes caps vary by council.
- "Equity loan" and "shared ownership" are not the same thing — getting this wrong changes whether you pay rent and what you owe on exit.
How to compare the real cost
Don't compare on headline rate alone. The fair comparison across schemes is the total monthly and exit picture:
monthly mortgage + rent + service charge + scheme fees + exit cost + resale restriction.
A scheme that lowers your deposit can still cost more month to month, or be harder to sell. Once you know which route fits, compare live mortgage rates for your deposit and property value — the rates change daily, so we keep them on the rates pages rather than quote them here.
Common questions
Is shared ownership the same as shared equity?
No. With shared ownership you buy a share of the home (say 40%) and pay rent on the rest to a landlord, who owns the remainder. With shared equity you usually own the whole home, but a scheme provider holds a financial stake you repay later — you don't pay rent on it. Mixing the two up is the most common mistake buyers make.
What is the smallest deposit I can buy a home with?
Around 5%. A 95% mortgage, often via the Mortgage Guarantee Scheme, lets eligible buyers put down 5% of the full price. With Shared Ownership the deposit is usually 5–10% of the share you buy, not the full property value — so the cash needed can be lower, but you also pay rent on the rest.
Is Help to Buy still available?
It depends where you are. England's Help to Buy Equity Loan closed to new applications in October 2022 and now only matters for existing borrowers. Help to Buy Wales is still live for new-build homes up to £300,000 with a 5% deposit, extended to September 2026. Scotland and Northern Ireland run their own shared-equity routes instead.
What government schemes help first-time buyers buy a home?
The main ones are the Mortgage Guarantee Scheme (95% mortgages), First Homes (England, 30–50% off for first-time buyers), and Shared Ownership. Social tenants may have Right to Buy, Right to Acquire or Right to Shared Ownership. Devolved schemes include Help to Buy Wales, Scotland's LIFT, and Northern Ireland's Co-Ownership.
Can I buy more of my shared-ownership home later?
Yes — this is called staircasing. You buy further shares over time, usually based on a RICS valuation. Newer English shared-ownership homes (post-April 2021) can let you staircase in 1% steps each year for up to 15 years; older leases use larger increments. As your share rises, the rent you pay falls.
Does a 95% mortgage mean I own less of the home?
No. With a 95% mortgage you own 100% of the home from day one — you've simply borrowed more and put down a smaller deposit. The trade-off is usually a higher interest rate and more sensitivity to future rate rises, not a smaller share of ownership.
