Expert Advice on Government Mortgage Schemes in Bristol & Bath

Making Homeownership More Accessible with Government Schemes

Government mortgage schemes are designed to make homeownership more achievable, especially for first-time buyers and those with smaller deposits. At Strong Mortgage Solutions, we provide expert advice on navigating these schemes in Bristol, Bath, and surrounding areas.

Whether you're exploring Shared Ownership, Deposit Unlock, or Right to Buy, we simplify the process, ensuring you understand your options and eligibility.

Book Your Free Government Scheme Consultation and take the first step towards homeownership.

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Key Government Mortgage Schemes We Support

Shared Ownership

Shared Ownership allows you to buy a portion of a property and pay rent on the remaining share. This can be a great option if you can’t afford to buy a home outright.

How Shared Ownership Works:

Purchase a Share – Typically between 25% and 75% of the property’s value.
Pay Rent – Rent is paid on the remaining share, usually to a housing association.
Staircasing – Increase your ownership share over time, potentially up to 100%.

Eligibility Criteria:

Your household income must be less than £80,000 (or £90,000 in London).
You must be a first-time buyer, or have previously owned a home but can’t afford to buy again.

Common Misconceptions:

"I can’t sell my home if I buy through Shared Ownership."
Truth: You can sell your share at any time, and housing associations will often assist with this.
"I’ll be stuck paying rent forever."
Truth: You can increase your ownership percentage over time.

Learn More About Shared Ownership

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Deposit Unlock

Deposit Unlock is designed for first-time buyers and home movers, allowing you to purchase a new-build home with just a 5% deposit while accessing competitive mortgage rates.

How Deposit Unlock Works:

Select an Eligible New Build Home – Offered by participating developers.
Secure a Mortgage – Apply for a mortgage with a lender supporting the Deposit Unlock scheme.
Purchase with Just a 5% Deposit – Benefit from competitive interest rates with a low initial deposit.

Eligibility Criteria:

Available to first-time buyers and home movers.
Purchase must be for an eligible new-build home.
Standard affordability checks apply.

Common Misconceptions:

"It’s only for first-time buyers."

Truth: The scheme is open to home movers as well.

"I’ll pay higher rates because of the low deposit."

Truth: Competitive rates are available through participating lenders.

Find Out About Deposit Unlock

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Right to Buy

Right to Buy helps eligible council and housing association tenants purchase their rented home at a discounted price.

How Right to Buy Works:

Check Eligibility – Must be a secure tenant of a council or housing association.
Receive Discount – Discount levels depend on how long you’ve been a tenant and the property type.
Purchase Your Home – Secure a mortgage and buy your home, using the discount as part of your deposit.

Eligibility Criteria:

You’ve been a council or housing association tenant for at least 3 years.
The property is your main residence.

Common Misconceptions:

"I can’t get a mortgage if I’m using Right to Buy."
Truth: Many lenders accept Right to Buy discounts as part of the deposit.
"I have to live in the property forever."
Truth: You can sell the property, but you may need to repay some of the discount if sold within 5 years.

Learn More About Right to Buy

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Frequently Asked Questions About Government Mortgage Schemes

Can I use a government scheme if I have bad credit?

Some schemes may still be available to applicants with a poor credit history, depending on the lender's criteria. We can guide you through your options.
Can I combine schemes like Shared Ownership and Help to Buy?

Generally, schemes are designed to be used separately. We’ll help identify the most suitable scheme based on your situation.
What happens if I want to sell my Shared Ownership property?

You can sell your share at any time. The housing association usually has the right to find a buyer first, but you can sell on the open market after a set period.
Is there a limit to the number of times I can staircase with Shared Ownership?

There is no set limit, but staircasing to 100% ownership may depend on the housing association's terms. We can work with you to check the possibilities and guide you through the process.
How long does it take to secure a mortgage using a government scheme?

Timelines vary, but we work to ensure the process is as efficient as possible. Having the right documents ready can help speed things up.

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Step-by-Step Guide to Using a Government Scheme

Initial Consultation – Understand your financial situation and which schemes may be suitable.
Eligibility Check – We assess your circumstances against scheme criteria.
Agreement in Principle (AIP) – Clarify how much you can borrow.
Application Process – We assist with applications and liaise with lenders.
Approval & Completion – Ensure a smooth process from start to finish.

Book a Free Consultation to start your journey with a government mortgage scheme.

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