Help to Buy

Southwark’s position at the heart of one of the world’s greatest capital cities, with its rich history and vibrant new developments make it an exciting place to live and work.

If you want to pursue academic interests several prestigious universities are all within easy reach complementing the opportunities available through the borough’s well respected CPD programme.

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Help to buy

There’s a great deal for you and your family and friends to do. Getting to and from those various places and events won’t be a problem either, as we’ve got great transport links.  Most teachers live around a half-hour’s walk or bike ride away from work, and enjoy access to good rental properties, shared ownership schemes and interest-free loans for home purchase on the open markets as part of the Keyworker Living scheme. So living and travelling couldn’t be much easier.

The government has created the Help to Buy scheme to help hard-working people like you take steps to buy your own home. The new Help to Buy: ISA pays first-time buyers a government bonus. For example, save £200 a month and we’ll add £50, up to a maximum of £3,000, boosting your ISA savings of £12,000 to £15,000. - See more at:

London Help to Buy

Rent to Save

Rent to save is designed to enable aspiring home-owners to move into the home they have chosen, even if they have not yet been able to save a sufficient mortgage deposit.

As the rent will be at a lower than market rate, you will be able to save throughout the period of your tenancy. Using typical assumptions for rental levels and mortgage deposits for shared ownership, a household regularly saving just the difference between their rent and market rent would have a sufficient deposit in less than two and a half years.

The housing provider will discuss with you your savings goal from the outset of the tenancy and how you should work towards this. The housing provider will explain to you how they will review your savings goal on an ongoing basis to ensure you are on course to achieve it.

The key features of the product are:

  • Let at up to 80% of the equivalent market rent for that property, with a fixed rate of inflation.
  • The property would be let on an assured shorthold tenancy for a fixed term, up to five years, linked to (but not necessarily the same as) the required savings period. The period can be extended if you still want to buy but need a bit more time.
  • The tenancy can be ended, subject to the terms of your tenancy agreement and initial fixed terms being spent, at any point.
  • A savings plan will be put in place to help you raise a sufficient deposit to purchase on either shared ownership or equity loan terms within five years.
  • The housing provider will discuss with you their regular reviews to check your progress in saving for a deposit.
  • You can purchase on shared ownership or equity loan terms at any point in the tenancy, subject to still being eligible (see the Am I eligible? page)


Help to Buy ISA

If you’re saving to buy your first home, the government will top up your savings by 25% (up to £3,000). If you’re buying with someone else, they can also get a Help to Buy ISA.

You don’t have to pay it back.


The home you buy must:

  • have a purchase price of up to £250,000 (or up to £450,000 in London)

  • be the only home you own

  • be where you intend to live

You can use the scheme with an equity loan.

How it works

Your first payment to your ISA can be up to £1,200 and then you can pay up to £200 each month. When you buy your property, your solicitor or conveyancer will apply for the extra 25%.


Your savings Government payment Total
£1,600 (minimum) £400 £2,000
£4,000 £1,000 £5,000
£12,000 (maximum) £3,000 £15,000