First-time buyer schemes compared: one table

First-time buyers in the UK face a mix of savings products, discounted purchase schemes and tax reliefs, but the rules are not the same. This guide compares who each route is aimed at, the main price or income limits, and where the catches sit.

The schemes at a glance

At a high level, the options here do different jobs. A Lifetime ISA and Help to Buy ISA are savings products with a 25% government bonus, Shared Ownership lets you buy part of a home and pay rent on the rest, First Homes offers eligible first-time buyers in England a discount of at least 30% below market value, Right to Buy lets most council tenants buy their council home at a discount, and first-time buyer stamp duty relief can cut SDLT on qualifying purchases.

Lifetime ISA vs Help to Buy ISA

The Lifetime ISA is open to people aged 18 to 39, lets you put in up to £4,000 a year until age 50, and pays a 25% bonus up to £1,000 a year; for a first-home purchase the property must cost £450,000 or less, you must wait at least 12 months from your first payment, and unauthorised withdrawals face a 25% charge on the whole pot. The Help to Buy ISA is closed to new accounts, but existing savers can still pay in up to £200 a month, get a 25% bonus up to £3,000, pay in until November 2029 and claim until November 2030, with a property cap of £250,000 or £450,000 in London. If you have both, you can only use the government bonus from one of them for your purchase.

Shared ownership

Shared Ownership means buying a share of a home’s market value and paying rent to a landlord on the rest. The share can be between 10% and 75%, though it is usually 25% to 75%, and for new-build homes the rent limit is 3% of the landlord’s share, with most landlords charging 2.75%. Eligibility includes household income of £80,000 a year or less, or £90,000 or less in London, and being unable to afford the deposit and mortgage for a suitable home. You can usually staircase by buying more shares later, which reduces the rent, but the rules, valuation requirements and fees depend on the lease and the size of the extra share you buy.

First Homes

First Homes is only available in England. Under the scheme, first-time buyers in England can buy a home at a discount of at least 30% below market value, with an income cap of £80,000 a year or £90,000 in London. After the discount is applied the price cannot exceed £250,000, or £420,000 in London, and you must fund at least 50% of the discounted price with a mortgage. On the facts provided, that makes it a discounted purchase route rather than a savings product or a tax relief.

Right to Buy

Right to Buy allows most council tenants to buy their council home at a discount. For houses, the discount is 35% after 3 to 5 years as a public sector tenant, rising by 1% for each extra year after 5 years up to the maximum discount amount; for flats, it is 50% after 3 to 5 years, rising by 2% a year after 5 years up to the maximum. The overall cap is the lower of 70% of the property value or the regional maximum discount, with the figures provided here stating caps for applications after 21 November 2024 ranging from £16,000 in London, with higher figures in Barking and Dagenham and Havering, up to £38,000 in the South East.

Stamp duty relief

First-time buyer SDLT relief means no SDLT up to £300,000, then 5% on the portion from £300,001 to £500,000, with no relief if the price is over £500,000. For shared ownership, first-time buyers can claim relief where the market value is £500,000 or less whether they choose a market value election or pay in stages, and the relief also covers the rent.

Key facts

Source: GOV.UK - Lifetime ISA — Guidance checked September 2026

Source: GOV.UK - Help to Buy ISA — Guidance checked September 2026

Source: GOV.UK - Shared ownership — Guidance checked September 2026

Source: GOV.UK - First Homes — Guidance checked September 2026

Source: GOV.UK - Help to Buy: Equity Loan — Guidance checked September 2026

Source: GOV.UK - Right to Buy — Guidance checked September 2026