Buying a home without a big deposit sounds impossible, right?

If you’ve been searching the internet for “Help to Buy”, “Is Help to Buy still available?” or “How to buy without a deposit,” you’re not alone.

 

Here’s the truth: the government’s Help to Buy scheme officially closed in 2023¹, leaving thousands of would-be homeowners wondering what’s next.

But there is good news.

Own Homes offers an alternative homeownership scheme that helps first-time buyers buy a new-build home.

You can use your monthly payments to build a mortgage deposit to own your own home within five years.

Let’s break down the differences.

What was Help to Buy?

Help to Buy was a UK government-backed scheme that allowed first-time buyers the chance to borrow an equity loan of up to 20% (or 40% in London) toward a new-build home.

Homebuyers needed to add a minimum 5% deposit and get a Help to Buy-approved mortgage from a lender.

It helped thousands onto the property ladder, but it needed a mortgage deposit up front.

Here’s what it involved:

• • A 5% deposit up front.

• • An equity loan where the government owns part of your home until you repay the loan in full.

• • Interest payments on the equity loan started after five years.

• • There were strict eligibility requirements that excluded many would-be homeowners.

Help to Buy: Equity Loan scheme ended in March 2023. So, if you’re hoping to get help to buy your home, you might feel like you’re back to square one.

Introducing #RentSaveOwn: A new route to homeownership.

#RentSaveOwn with Own Homes is here to help solve the problem that Help to Buy couldn’t: helping those who can afford a mortgage but struggle to save for a deposit to own their own home.

Here’s how it works:

1. 1. Choose a new-build home from one of our partner housebuilders.

1. 1. Move in once it’s built and pay a rent similar to a mortgage.

1. 1. Save towards your deposit automatically, with a portion of your monthly payment automatically going into a secure savings account each month.

1. 1. Buy your home when you’re ready, usually within five years, using the deposit you’ve built up.

It’s simple, flexible, and designed with you in mind.

Because your rent should lead you to your own front door.

Help to Buy vs Own Homes.

Key differences in the homeownership schemes:

	Help to Buy	Own Homes
Home type	New builds only	New builds only
Deposit needed	5% deposit upfront.	One month’s payment and admin fee – no mortgage deposit needed upfront (we help you save that).
Mortgage	Required from day one.	Needed when you buy (after 3-5 years).
Equity loan	20–40% from the government.	None. You buy using a mortgage and your deposit when you’re ready.
Ownership	Shared (government holds equity until repaid).	Full ownership by you when you buy.
Ideal for	Homebuyers with savings and good credit.	Those with a household income over £45,000 who are eligible for a mortgage.

Why #RentSaveOwn works better.

Let’s be real, not everyone has a 5% deposit sitting in a savings account. Never mind 10% or 20%!

Our homeownership scheme is built for those, like you, who can afford mortgage payments but cannot save a deposit.

Benefits:

• • No large deposit upfront, move in and then build the deposit.

• • Your money works harder; part of what you pay goes toward building your deposit.

• • New-build homes are modern, energy-efficient, and easy to maintain.

• • Predictable payments, typically in line with future mortgage payments, shows you can afford the home in the future.

• • Support from real people, guidance from day one until you own.

It’s not a loan. It’s a real, practical way to buy your own home that fits today’s reality.

Own your future, one rent at a time.

Help to Buy helped thousands, but it’s gone. Own Homes picks up where it left off.

Our rent-to-own scheme is designed for anyone who:

• • Has a household income over £45,000

• • A stable employed or self-employed history.

• • Wants a clear, achievable way to save a deposit while living in the home they’ll own.

With #RentSaveOwn, you can:

• • Choose a new-build home and move in.

• • Make a monthly payment, with part of it going towards your deposit automatically each month.

• • Track your progress and switch to a mortgage when you’re ready

Because homeownership shouldn’t feel out of reach, it should feel possible.

Ready to own your home, your way?

We’re here to help you rent-to-own the home you have dreamed of.

If you’re ready to buy, can afford a mortgage but can’t save a deposit, this could be your pathway to real, confident homeownership.

Find out more at Own Homes:

• • Learn how much you can afford

• • Be first to know when Own Homes launches near you.

• • Making your rent can start working toward your future.

Find out how you can become a homeowner

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Sources:

1. 1. UK Government Help to Buy guidance: Help to Buy www.gov.uk

1. 1. ONS Housing Affordability Data: in England and Wales, 2024 www.ons.gov.uk