Will anything come close to replacing Help-to-Buy?

Will anything come close to replacing Help-to-Buy?

Help-to-Buy was a huge help for first-time buyers who dreamed of home ownership, but didn’t have the funds to do it straight away. So it feels natural to wonder, what support tools are left for first-time buyers now? 

At the moment, the Lifetime ISA presents itself as a sort-of replacement for the Help to Buy ISA. Get a Lifetime ISA and you can take advantage of a 25% bonus on your savings every time you pay in. Best of all, you can deposit more each year, and over a longer period of time! 

But first-time buyers may soon have even more avenues to get on the housing ladder. The government is also planning a new scheme called ‘First Homes’, where certain properties will be sold for between 30 and 50% below market value. 

However, the best alternative may already be hiding in plain sight - Shared Ownership can turn the difficulty of saving up a deposit into yesterday’s news. Giving you the option to buy a share of your home while you pay rent on the part of the home that the government owns, this is a hugely popular option for first-time buyers looking to buy a home without losing all your savings in one go.