Are you a First-Time Buyer in Liverpool? If so, check out this handy Government Help Guide
At LTC Mortgages, your trusted mortgage broker in Liverpool, we understand that stepping onto the property ladder can be challenging. Fortunately, several government schemes are available in 2025 to assist first-time buyers in Liverpool, including areas like West Derby, Allerton, Crosby, Maghull, Kirkby, Walton, Old Swan and Childwall. Our team of independent mortgage advisers is here to guide you through these options.
1. First Homes Scheme
The First Homes Scheme offers eligible first-time buyers a 30% to 50% discount on new-build homes. To qualify, applicants must:
- Be first-time buyers
- Have a combined income below £80,000 (£90,000 in London)
- Purchase a property as their primary residence
Local councils may set additional criteria, such as prioritising key workers or residents with a local connection. Our Liverpool mortgage specialists can help determine your eligibility and navigate the application process.
2. Mortgage Guarantee Scheme
Extended until June 2025, the Mortgage Guarantee Scheme enables buyers with a 5% deposit to access 95% loan-to-value mortgages. The scheme applies to properties valued up to £600,000 and is available to both first-time buyers and existing homeowners. Participating lenders are backed by a government guarantee, reducing their risk. Our mortgage advisers in Liverpool can identify suitable lenders and assist with your application.
3. Lifetime ISA (LISA)
A Lifetime ISA allows individuals aged 18 to 39 to save up to £4,000 annually, with the government adding a 25% bonus (up to £1,000 per year). Funds can be used to purchase a first home valued up to £450,000 or for retirement after age 60. It’s important to note that early withdrawals for non-qualifying reasons incur a 25% penalty. Our team can advise on how a LISA fits into your home-buying strategy.
4. Shared Ownership
The Shared Ownership scheme allows buyers to purchase a share (typically between 25% and 75%) of a property and pay rent on the remaining portion. Over time, you can buy additional shares, a process known as “staircasing.” This option is ideal for those who cannot afford the full purchase price of a home. Our Liverpool mortgage experts can help you explore shared ownership opportunities in the area.
5. Stamp Duty Relief
As of April 1, 2025, Stamp Duty Land Tax (SDLT) thresholds have changed. First-time buyers now pay:
- 0% on properties up to £300,000
- 5% on the portion between £300,001 and £500,000
Properties over £500,000 are subject to standard rates. Our advisers can help you understand how these changes impact your home purchase.
Need Personalised Advice?
At LTC Mortgages, we offer tailored guidance to help you navigate these government schemes and find the best mortgage options in Liverpool. Contact us today to schedule a consultation with our experienced team.
Get in Touch
Not sure which scheme suits you best?
Speak to one of our mortgage experts at LTC Mortgages today — we’ll help you make sense of your options and guide you through the process from start to keys in hand.
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Your property may be repossessed if you don’t keep up with your repayments on your mortgage.