Home ownership schemes

Many people can't afford to buy a home on the open market, but there are several government-backed affordable home ownership (HomeBuy) schemes to help first time buyers on to the property ladder.

The best place to go for free, impartial advice and information is Plumlife. Appointed by the Homes and Communities Agency (HCA) as HomeBuy Agency for Greater Manchester, Lancashire and South Yorkshire, it specialises in offering government-backed schemes such as Shared Ownership, HomeBuy Direct and FirstBuy equity loan schemes.

Plumlife say: "We offer help to working people who can’t afford a home with just a commercially-available mortgage. If they are earning a household income of under £60,000 – they may be eligible to apply. "With Shared Ownership, for example, we can offer people who meet the necessary criteria, the chance to buy a home for between 25% and 75% of its market value. We own the rest of the property and charge a nominal rent on this proportion. This works out cheaper than buying 100% . . . and you can buy more of your home later, when you can afford it."

Plumlife offers a whole host of other schemes, as well as free, independent mortgage advice, all designed to help people get into home ownership. To find out all about the HomeBuy opportunities in the area, visit the Plumlife website or call them on 0161 447 5151.

More advice on Directgov

If you can’t afford to buy your first home, there are government schemes in England that can help. Find out what affordable home ownership schemes are available and if you qualify to buy a home this way.