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Are you a first-time buyer trying to get on the property ladder in Manchester? If so, the Help to Buy scheme could be just the solution you need.

Designed to help anyone struggling to save a deposit for their first home, this government-backed incentive can cover up to 20% of the property price.

What’s more, there’s a fantastic range of Help to Buy properties available in Manchester, so it’s entirely possible to secure your dream home with as little as a 5% deposit.
 

What is the Help to Buy Scheme?

There are several scheme options available in England, but the most popular incentive is the Help to Buy Equity Loan.

Under this scheme, the government lends you between 10% and 20% of the cost of your new build home, meaning you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

So, if you were to purchase a home valued at £200,000, the process would look like this:

    You would pay a 5% cash deposit (£10,000)
    You would take out a mortgage for 75% (£150,000)
    The government provides you with an equity loan for the remaining 20% (£40,000)

 
Only new build homes valued at £600,000 or less are included, and the 20% loan can be paid back either at the end of the mortgage term or when the property is sold. Another bonus? You won’t be charged fees on the loan for the first five years of owning your home.

The Help to Buy scheme has recently been extended until 2023 for first-time buyers, so now is the perfect time to take advantage of this incentive.

Curious to know more about this scheme or Help to Buy homes in Manchester? Don’t hesitate to contact us today or visit one of our expert mortgage advisors in Manchester. We’re always available to answer any questions and guide you through the entire application process.
 

Help to Buy Homes in Manchester

To make your property search a little easier, we’ve put together a list of homes for sale in Manchester that qualify for the Help to Buy scheme (categorised by region).

Central
Whether it’s the charming district of Castlefield, the ultra-modern area around Spinningfields, or the trendy Northern Quarter, homes in this area provide the very best of city centre living on your doorstep. Each of Manchester’s central neighbourhoods is distinctly unique, offering an eclectic mix of properties, independent and chain shops, and excellent transport connections to other parts of the city and Manchester’s outlying suburbs.

Current Help to Buy properties available in Central Manchester: New Brunswick, Connell Gardens, Connell Gardens Phase 3

North East
A combination of highly-rated local schools, great leisure facilities, excellent transports links, and a semi-rural location make this affordable yet affluent area incredibly appealing for first-time homebuyers and those looking to start a family. Picturesque towns such as Saddleworth and Chadderton are two of the most popular locales in this district, and properties in these areas tend to sell almost as fast as they come to the market.

Current Help to Buy properties available in North East Manchester: Booth Hall, Blackley, East Hollinsfield, Stamford Gate, Pennine Gate, Lancaster Gardens, Saddleworth View, St Augustine’s, Limehurst Village Phase 2, Willow Park

North West
Northwest of the city centre, you’ll find several districts offering a mix of great schools, affordable housing options, ample green space, and fantastic transport links, making it an ideal option for families and those wanting to live in a laid-back, suburban setting. Prestwich and Ramsbottom, in particular, are renowned for having a close-knit community feel whilst being located within easy commuting distance of Manchester Central.

Current Help to Buy properties available in North West Manchester: Pennington Wharf, Rothwells Farm, Bakersfield, Walmsley Park, The Pastures, Persimmon Gardens, Hilltop Manor, Trinity Point, The WorksTudor Grange, Edenfields, The Vistas, Barton Quarter, The Avenue, Woodland View, Bridgewater View, Pear Tree Meadow, Standish Grange, Havenswood, Reynolds Place, Cottonfields

South East
For those seeking a village lifestyle and escape from the hustle and bustle of the city centre, the towns and villages located southeast of Manchester Central offer the perfect compromise. The upmarket suburb of Didsbury — which is often voted as one of the top places to live in Manchester — is located in this region, along with several other in-demand neighbourhoods, including Bramhall, Stalybridge, and Ashton-under-Lyne.

Current Help to Buy properties available in South East Manchester: Arnfield Woods, Clarendon Woods, The Old Dairy, Canalside, Vision, Lancaster Green at Woodford Garden Village, Woodford Garden Village, Vulcan Grove, Mulberry Park, Blackberry Point, Chatsworth Grange

South West
If leafy suburbs, lively town centres, and convenient transport links are what you’re after, look to houses located southwest of Manchester Central. This tranquil yet vibrant area encompasses some of the city’s most highly sought-after districts — including Chorlton-cum-Hardy, Altrincham, and Salford — along with top-performing schools, access to local amenities, and a wide range of housing options catering to working professionals as well as families.

Current Help to Buy properties available in South West Manchester: Bloor Homes at Lowton Heath
 

Looking for Help to Buy Homes in Manchester? First Mortgage Can Help!

If you’d like to learn more about the Help to Buy scheme, or if you simply need advice on Help to Buy homes in the Manchester area, our experienced mortgage advisors are always on hand to discuss your specific requirements (and our services are always 100% free!).

Contact us online today, speak to us by phone, or pop into our branch in Manchester — the choice is yours.

Have a question?

If you need advice for  first-time buying in Manchester – or if you’re looking for a reliable mortgage broker in Manchester – don’t hesitate to contact us today.

We’re experts on all things mortgage-related (and our services are always 100% free).

Manchester

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