What’s replacing Help to Buy?

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As a first-time buyer, you may have heard of the Help to Buy scheme. What you may not know, is that Help to Buy ends on 31st March 2023.

The government scheme was designed to support first-time buyers with purchasing a new build property by enabling them to purchase a home with as little as a 5% deposit. Help to Buy has been a hugely successful scheme, allowing more budding homeowners the ability to get onto the property ladder.

With the scheme ending, first-time buyers across the country are posing the question, ‘what will be replacing Help to Buy?’.

The short answer:

There is no direct replacement. But there are other schemes available that are designed to help first-time buyers get on to the property ladder.

First things first

We understand that every industry is, at times, guilty of throwing their own terminology and jargon around without batting an eyelid and assuming everyone will catch on. The difference is with us here at Sims Williams, we don’t believe that you should risk any miscommunication when dealing with such a significant investment.

To help you to feel informed and secure that you understand everything that’s going on at each stage of the process, we’ve created a 3-minute summary of the schemes that are currently in place.

Deposit Unlock

One of the newer schemes in place today. It was created by the Home Buildings Federation (the body that represents housing developers) and the reinsurance firm ‘Gallagher Re’.

Deposit Unlock is designed exclusively for new build properties and is accessible for first-time buyers and home movers. It aims to fill the gap that the Help to Buy scheme will leave in the market when it finishes later this month, and will continue to support people on to the property ladder.

Mortgage lenders often impose tighter restrictions on high loan-to-value (LTV) mortgages for new build properties as a way to protect themselves from any depreciation over the first few years. The Deposit Unlock Scheme aims to make mortgage lenders more comfortable with providing high LTV mortgages for new builds. It is able to provide security for the lender because the registered home builder pays to insure the mortgage and uses some of the money from the house sale to do this. 

The main advantage of this scheme for potential buyers is that it provides the opportunity to purchase a new build property with only a 5% deposit rather than the usual 15% – 25% deposit that is notoriously imposed on new build properties.

Further information about the Deposit Unlock Scheme can be found here

First Homes Discount

The First Homes Discount scheme was designed to assist first-time buyers with getting onto the property ladder and purchase their first home at 30-50% less than it’s market value. It is exclusively available in England. 

Through this scheme, you can purchase a new build property from a developer, or a ‘second-hand’ new build which was initially bought as part of the same scheme. 

There are a number of restrictions, exemptions and criteria concerning eligibility laid out by HMRC that you can read further about here.

Shared Ownership

Also known as the part-buy, part-rent scheme, this will allow you to purchase a share of a leasehold property. First-time buyers can purchase anything from 10% up to 75% of the property’s full market value. 

The rules surrounding this scheme vary depending on where you live in the United Kingdom, so make sure you research this thoroughly. The HMRC provides a good explanation of everything you need to know here.

It is the longest-standing scheme on the market and enables people who are unable to deliver the resources required for a deposit and mortgage payments to still get their foot on the property ladder. 

That’s a wrap

Hopefully this has given you some food for thought if you’re looking to get on the property ladder! 

We are always here to help you and answer any questions you may have about our industry and services. 

Sims Williams is an estate and letting agent covering Arundel, Bognor Regis, Chichester and The Six Villages. If you have been considering investing via any of these schemes and would like to discuss the available properties that are available to you in the current market please do get in touch.


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Look no further than Mel Fahy and the Team members at Sims Williams in Chichester, their service has been second to none and I can highly recommend them. My experience has been nothing but positive with their professionalism and friendliness. Mel has gone out of her way to keep in touch with the relevant parties and also ensure I have been kept fully up to date, thank you Mel!
Toni - Buyer - Mar 9th, 2021


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I found a property online and viewed the same day and the following day. Nothing was to much trouble, very accommodating around viewing times. The application process was straight forward and made the moving process very stress free. Would highly recommend Sims Williams and Jo, very easy to deal with.
Darren, Tenant - Oct 20th, 2021

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We have just taken on a new rental property via Sims Williams and from the very first viewing to picking up the keys David and his team have been excellent in making the process as smooth as possible. Great service and highly recommended.
Kevin & Jane - Tenant - Feb 6th, 2024

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Made the whole experience easy and pain free, always quick to respond and never had to chase. I could not be more pleased.
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What exceptional service. Thank you Calum. We must give praise where it is due and you went above and beyond our expectations by updating and guiding us every step of the way. We would highly recommend your services to anyone and everyone! A real professional.
John & Zoe - Vendor - Feb 24th, 2021


I can't praise the Walberton team enough - really wish they had been are agents for selling our property as they were so efficient, organised and the customer service was fantastic. Prompt responses and nothing was to much trouble. Especially Lin - who's calm approach kept me sane and rational!
Lisa J - Buyer - Sep 4th, 2020

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Wonderful service which has led me step by step to completing house agreement. Special thanks to Jo for all the professional help provided.
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