An Overview of Assisted Move Schemes for Home Buying in the UK

Are you looking to buy a new home in the UK? You may want to consider taking advantage of an assisted move scheme, which can help you cover some of the costs associated with purchasing a new home. In this blog post, we’ll provide an overview of some of the different assisted move scheme types available in the UK and how they can benefit prospective home buyers

Help to Buy Equity Loan Scheme

The Help to Buy Equity Loan Scheme is designed to help first-time buyers purchase their first property. It allows buyers to borrow up to 20% of the price of a newly built home, with no interest payments due for five years (after that, interest will be charged at 1.75%). To use this scheme, buyers must have saved at least 5% towards their deposit and have a mortgage for 75% or more of their property’s value. This scheme is only available on newly built homes purchased from registered Help to Buy builders and developers

Shared Ownership Scheme

The Shared Ownership Scheme is aimed at helping people who cannot afford to buy a home outright but would still like to own one. Under this scheme, buyers purchase a share of their home (usually between 25% – 75%) and pay rent on the remaining share owned by a housing association or local authority. The amount paid depends on what percentage of your property you own; if you own 75%, then you would only need to pay rent on 25%. This scheme is open to both first-time buyers and those who already own property

Right To Buy Scheme

The Right To Buy Scheme offers tenants living in council or housing association properties the opportunity to purchase their homes at discounted prices. Eligible tenants are able to buy their homes at up to 70% off market value, depending on how long they have been living there and whether they are transferring ownership from another tenant eligible for Right To Buy discounts. This scheme does not require any deposits or special mortgages; however, it does involve lengthy application processes that can take several months before being approved

Buying a new home can be an expensive undertaking, but there are ways for prospective UK homeowners to get assistance in covering these costs through various assisted move schemes such as Help To Buy Equity Loans, Shared Ownership Schemes and Right To Buy Schemes. Each scheme offers unique benefits that can help ease the financial burden associated with buying a new home while also providing access to affordable homeownership options that may otherwise be out of reach for many potential homeowners in the UK. If you’re interested in taking advantage of any of these programs when purchasing your next home, make sure you research all your options thoroughly before making any commitments so that you can make an informed decision about which option best suits your needs!